News Corporation confirms potential split between its entertainment and publishing divisions into different companies
News Corporation has confirmed reports that it will consider splitting its publishing and entertainment divisions into seperate companies.
Reports yesterday suggested that the company is considering the possibility of splitting its entertainment companies such as 20th Century Fox and the Fox News Channel away from its publishing assets such as The Wall Street Journal and News International, which have come under scrutiny this past year for phone hacking and the payment of police.
The Wall Street Journal yesterday said that the move would appease the company’s investors who have been critical of the company’s publishing titles.
A statement released to the stock market by News International has confirmed the report; “News Corporation confirmed today that it is considering a restructuring to separate its business into two distinct publicly traded companies.”