News Corp chairman Rupert Murdoch is considering
dividing the media company into two, separating its publishing
properties from its entertainment business, the Wall Street Journal
reported on Tuesday.
The split would mean that News Corp's newspaper, magazine and book publishing businesses would be separated from its film and television properties, including its numerous television broadcasters and the 20th Century Fox movie studio.
A final decision has not yet been made, according to the paper.
Investors may welcome the split because News Corp's entertainment divisions has consistently outperformed its publishing assets in recent years, and make up the bulk of the media behemoth's profits.
One of the company's British titles, News of the World, was shuttered last year after allegations erupted that its journalists hacked into the phones of royals, celebrities and ordinary citizens alike.
The resulting scandal rattled the nerves of News Corp's investors and damaged the reputation of several of its British newspapers.
The Wall Street Journal, itself a News Corp publication, reported that should the company split, the Murdoch family would likely continue to have a controlling stake in both business.
Most Popular Stories
- Stolen Cobalt-60 Recovered in Mexico
- Hezbollah Chief's Assassination Claimed by Sunni Group
- Sarmiento to Handle Greeley Latin Ops
- Allstate Seeks to Invest in Minority Firms
- First-time Jobless Claims Drop Below 300,000
- SpaceX's Satellite Launch Is 'Game-Changer'
- White House Pushes to Extend Unemployment Benefits
- Wind Power and Wildlife Can Coexist
- Latin Music Conference Turns 25
- Calif. Likes Christie, Says Tea Party's a Drag