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News Corporation split with 20th Century Fox agreed by shareholders

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By Stephen Lepitak, -

June 12, 2013 | 2 min read

The move by Rupert Murdoch to split News Corporation and divide the publishing business from its entertainment entities has been agreed by shareholders.

Following the separation, the two separate entities will be named as News Corporation, which will run the publishing side, while 20th Century Fox will be the overall brand for the entertainment business.

The plan was formally agreed at the end of May, but has now been given the seal of approval by shareholders who have long questioned the need for the struggling publishing arm, so cherished by Murdoch who will serve as chairman and CEO of the proposed 21st Century Fox, and executive chairman of the new News Corporation.

The split of the company into a newspaper and publishing division and a film and TV division will take place on 28 June, href="/news/2013/05/24/news-corp-split-take-place-28-june">it has already been announced.

At the time of that announcement, Murdoch, said: "Today's announcement is a significant step in creating two independent companies with the world's leading portfolios of publishing and media and entertainment assets.

"We continue to believe that the separation will unlock the true value of both companies and their distinct assets, enabling investors to benefit from the separate strategic opportunities resulting from more focused management of each division.

"The two new industry leaders created by the separation will be guided by the insights of accomplished individuals who collectively bring to each company demonstrated business acumen and a diversity of experience."

News Corp 20th Century Fox Rupert Murdoch

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