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15:21, 28 June 2012 Thursday

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News Corp confirms plan to split in two
News Corp confirms plan to split in two
(File Photo)

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

World Bulletin / News Desk

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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