News Corp shares rise as company considers split
Wednesday, June 27, 2012/
Shares in News Corp have risen nearly 4% this morning after the media giant confirmed it’s considering splitting the business into two separate companies.
The business said yesterday the restructure would separate the entertainment division from the publishing group.
Shares in the United States rose over 8% last night to $US21.96 after the announcement was made.
A restructure would take the film and television businesses away from the news and media publications, following the News of the World scandal in Britain. The new entity would cover the 20th Century Fox film studio, the Fox broadcast network, and the Fox News Channel.
The publishing entity would control publications including The Wall Street Journal, the New York Post and The Times in London, along with HarperCollins.
This article first appeared on SmartCompany.