News Corp to be split into two companiesJune 28th, 2012 - 5:37 pm ICT by IANS
London, June 28 (IANS) Rupert Murdoch’s News Corporation will be split into two companies for its newspaper business and entertainment operations, it was reported here.
News Corp’s board voted unanimously to approve the plan after the firm revealed it was considering the split earlier this week, the Daily Mail reported Thursday.
The move will see the group’s 39 percent stake in broadcasting giant BSkyB separately listed from the embattled UK newspaper arm News International.
News International has been the focus of the phone hacking scandal that led to the closure of the News of the World tabloid.
News Corp’s film and television businesses - including 20th Century Fox and the Fox broadcasting network - will be grouped in one company.
The other company will hold all News Corp’s publishing interests, such as The Wall Street Journal, The Times, The Sun, The Australian, The New York Post and publisher HarperCollins, the Mail said.
On Tuesday, News Corp said it was “considering a restructuring to separate its business into two distinct publicly traded companies”.
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- Murdoch's News Corp withdraws bid for BSkyB - Jul 13, 2011
- James Murdoch quits boards of Sun, Times - Nov 23, 2011
- Rupert Murdoch resigns as News International director - Jul 22, 2012
- Those involved in phone hacking must be prosecuted: Cameron - Jul 13, 2011
- Rupert Murdoch urged to quit - Apr 03, 2012
- Cameron says hacking probe to be widened, regrets hiring Coulson (Second Lead) - Jul 20, 2011
- Murdoch waits for Ofcom report on BSkyB deal - Dec 31, 2010
- Rebekah Brooks released on bail - Jul 18, 2011
- Murdoch's Sky News admits hacking emails - Apr 05, 2012
- Rebekah Brooks arrested? - Jul 17, 2011
- James Murdoch resigns as News International chairman - Feb 29, 2012
- Murdoch to launch Sun on Sunday next week - Feb 20, 2012
- News International CEO Rebekah Brooks quits (Lead) - Jul 15, 2011
- Murdoch not fit to lead News Corp: British MPs - May 01, 2012
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