It's Looking Like Good News Corp.
FOR MONTHS, STOCKHOLDERS LEANED ON RUPERT MURDOCH TO DO SOMETHING ABOUT NEWS CORP.'S SLUGGISH SHARE PRICE. On June 29, they got their wish: Murdoch unveiled plans to spin off News's sexiest assets into a company called Fox Group. Those assets include the Twentieth Century Fox studio, his Fox Network and TV stations, and the L.A. Dodgers. Analysts said the move should boost News's stock price. And, in selling 20% of Fox Group to the public by yearend, Murdoch will raise up to $4 billion.