News Corp. to split
Thursday, June 28, 2012
News Corp. recently announced plans to split up into two publicly traded entities that will be focused on entertainment and publishing.
The move came following pressure from shareholders that led to the biggest reorganization of the company since its inception, Bloomberg reports.
“Everyone is enormously excited for what we’ll be able to achieve with this split,” Murdoch, 81, told the news source in a phone interview.
In a meeting with editors and publishers two days ago, Murdoch invited attendees “to ask every possible question” about the move and said that “they all went away very positive.”
The media and entertainment entity will have TV and film assets and the publishing entity will entail newspapers in Australia, the United States and United Kingdom.
Brett Harriss, an analyst at Gabelli and Company, recently told the Washington Post that News Corp.'s new plans could allow its stock to reach $30 with no problem.
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