News Corp is looking to split into two separate companies – one for its entertainment business and publishing arm respectively.
The division would detach its film and TV business, which includes film studio 20th Century Fox and the Fox TV channels, from its publishing business, which consists of newspapers like The Times and books.
These reports come from the Wall Street Journal, which says although a final decision has not yet been made, the publishing company would be smaller than the entertainment company.
The Murdoch family – which owns a 40 per cent stake in News Corp – would reportedly continue to own both individual businesses, should the split happen.
News Corp’s entertainment assets make up the majority of the company’s revenues. These contributed to 90 per cent of its operating profit during the first nine months of its current financial year.
The firm also has a 39 per cent stake in UK satellite TV operator BSkyB.
The talk of a company restructure comes one year after the closure of News Corp’s Sunday newspaper News of the World following a phone hacking scandal.
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