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News Corp. Board Approves Company Split
Media empire News Corp., parent of Fox and The Wall Street Journal, will be cleaved into two businesses starting June 28: a publishing arm and one for entertainment.
The plan was first announced a year ago. As we reported at the time:
"News Corp. is responding to pressure from some investors who aren't interested in its relatively slow-growing publishing ventures, which include The Wall Street Journal and New York Post, newspapers in Australia and a collection of British tabloids that have been caught up in the U.K."