Reports: News Corp Board to Discuss Split Wednesday
Decision could be announced Thursday
By Mike Farrell, Multichannel News -- Broadcasting & Cable, 6/27/2012 12:06:17 PM
Analysts have called for the separation for years, but News Corp. chairman and CEO Rupert Murdoch, who had been an opponent of a split in the past, has apparently warmed to the concept. In a brief statement Tuesday, News Corp. confirmed what its own Wall Street Journal broke earlier in the day -- that it is considering separating its publishing unit from its more profitable television and film businesses.
"News Corporation confirmed [Tuesday] that it is considering a restructuring to separate its business into two distinct publicly traded companies," the company said in its statement Tuesday.
According to the Journal, News Corp.'s board of directors were scheduled to meet Wednesday to discuss the split. If the board decides to go forward with the action, it would be announced Thursday morning, the Journal reported.
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