News Corp confirms plan to split in two

Murdoch will be chairman of both companies and will be chief executive of the entertainment business

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Reuters New Delhi
Last Updated : Jan 24 2013 | 1:49 AM IST

Rupert Murdoch's News Corp said on Thursday it would pursue splitting the $60 billion media conglomerate into separate publicly traded publishing and entertainment companies.

Murdoch will be chairman of both companies and will be chief executive of the entertainment business. The company did not name a chief executive for the new publishing company.

News Corp's board, overseen by the 81-year-old Murdoch, met on Wednesday and authorized management to move ahead with the separation, the company said.

 

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First Published: Jun 28 2012 | 5:23 PM IST

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