Saying that the move will create two companies, one a "world-class" publisher and the other an "unmatched global media and entertainment" giant, Rupert Murdoch's °µºÚ±¬ÁÏ Corp. .
Murdoch, a legend in the news and entertainment businesses whose TV ventures include Fox °µºÚ±¬ÁÏ Channel, will "serve as chairman of both companies and CEO of the media and entertainment company," the company added.
As , °µºÚ±¬ÁÏ Corp. is responding to pressure from some investors who aren't interested in its relatively slow-growing publishing ventures, which include The Wall Street Journal and New York Post, newspapers in Australia and a collection of British tabloids that have been caught up in the .
All sorts of legal steps — including getting the OK from shareholders and regulators — still need to happen before the split occurs. °µºÚ±¬ÁÏ Corp. says "the separation is expected to be completed in approximately 12 months."
Copyright 2020 NPR. To see more, visit https://www.npr.org. 9(MDAxNDQ2NDAxMDEyNzU2NzM2ODA3ZGI1ZA001))
