The News Corp. board has agreed to divide the corporation into two pieces, with one company encompassing its television and film assets, and the other holding its publishing entities, according to The Wall Street Journal, which is owned by News Corp. According to reports, the division will be formally announced on Thursday.
News Corp. would separate the 20th Century Fox film studio, Fox broadcast network, and Fox News Channel from newspapers and book publishing, according to The New York Times and The Wall Street Journal, where the proposal was first reported. The corporation’s publishing unit includes newspapers such as The Times of London and The New York Post, with HarperCollins in its book publishing assets. News Corp. is controlled by media mogul Rupert Murdoch, who the British Parliament committee said was not a “fit person to exercise the stewardship of a major international company.” Murdoch had been amid a hacking scandal that prompted News Corp. to shut down its old British tabloid, News of the World, last year.
