Murdoch considers News Corp carve up

By By David Blight | 27 June 2012
Rupert Murdoch (Image Source: Wikimedia Commons).

News Corporation has confirmed it might split its entertainment assets from its newspaper businesses, after Rupert Murdoch publicly dismissed the plans some time ago.

In a short statement, the company said it is considering separating into two distinct publicly traded companies.

Within Australia, the move would likely see a separation of assets. News Corp owns publishing businesses News Limited and NewsLifeMedia, as well as 25% of pay TV operator Foxtel and 50% of Fox Sports.

According to reports, the board of New Corp is meeting today to discuss the issue.

News Corp's chief operating officer Chase Carey said earlier in the year the company had considered a split.

However, Rupert Murdoch has in the past denied any such split will occur.

At the time of writing, the company's Australian shares were up 4.47% on the previous day's trading at $21.72.

The potential changes at News Corp would cap off a period of turmoil in the media industry, which has been rocked with major restructures and redundancy revelations at Fairfax and New Limited.

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