Rupert Murdoch's News Corporation
makes an announcement about the plans to divide the $60bn media massive into
two companies. Book publisher HarperCollins would join newspaper titles such as
the Sun. Mr. Murdoch will be chairman of both firms. The move should ring fence
News Corp's profitable film and media business from its UK newspaper business,
which is involved in a phone-hacking disgrace.
According to News
Corp chairman and chief executive Rupert Murdoch he was 100% dedicated to the
future of equally the publishing and media and entertainment businesses The new
publishing unit would include the UK newspaper titles the Sun and the Times as
well as the Wall Street Journal and New York Post in the US and the Australian.
At present, the film and television businesses include the film studio 20th
Century Fox, Fox satellite and cable television stations, as well as its stake
in BSkyB in the UK and Star in Asia.
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