Deals
News Corp. Announces Plans to Split Into Two Companies
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News Corp. announced plans to split into two publicly traded entities focused on publishing and entertainment after shareholder pressure prompted the biggest reorganization since Rupert Murdoch built the media empire.
The publishing business will consist of newspapers in the U.S., U.K. and Australia, as well as book, education and marketing assets, according to a statement today. The media and entertainment company will have film and TV assets. Murdoch will be chairman of both entities and chief executive officer of entertainment when the deal closes in about 12 months.