News Corp to split on June 11?
May 1, 2013
By Chris Forrester
News Corp has set June 11th for a special shareholder vote on the company’s future, and proposals to split the company into two separately quoted entities.
News Corp will end up with its global printing and publishing assets which would include its newspaper assets like The Wall Street Journal, The New York Post, The Sun and The Times of London in the UK and Australian newspapers. The other business, to be named 21st Century Fox, would include its US cable channels, the Fox Broadcasting network and the 20th Century Fox film studio and the former international broadcasting elements that have already been consolidated.
The two companies will be headed by Rupert Murdoch, who will also serve as CEO of the 21st Century Fox entertainment unit.