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Report: News Corp. agrees to split in two

News Corp. goes from one company to two

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    News Corp. goes from one company to two

News Corp. goes from one company to two 01:03

Story highlights

  • Wall Street Journal: News Corp. board agrees to split company
  • Journal is owned by Rupert Murdoch's News Corp.
  • TV, film assets and the publishing wing to be separate entities

The board of News Corp. has agreed to split the conglomerate into two pieces, with one company encompassing its television and film assets and the other holding its publishing entities, according to The Wall Street Journal, which is owned by News Corp.

The split is expected to be formally announced Thursday, a person familiar with the situation told the Journal.

The move would separate the 20th Century Fox film studio, Fox broadcast network and Fox News Channel from newspapers and book publishing, according to The New York Times and The Wall Street Journal, in which the proposal was first reported.

News Corp.'s publishing unit includes newspapers such as The Times of London and The New York Post. Its book publishing assets include HarperCollins.

News Corp. is controlled by media magnate Rupert Murdoch. He has been grappling in recent months with criminal investigations into his company over allegations of hacking into people's phones and improper collusion with British police. The scandal prompted News Corp. to shut down its venerable old British tabloid News of the World last year.

News Corp. goes from one company to two

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A report last month from a British Parliament committee said that Murdoch was not a "fit person to exercise the stewardship of a major international company."

News Corp. said Wednesday night it would have no comment on The Wall Street Journal's report.

      The hacking scandal

    • Former News of the World editor and Downing Street communications chief Andy Coulson arrives at the phone-hacking trial at the Old Bailey court in London on January 27, 2014.

      Britain's phone-hacking scandal has seen former tabloid editor Andy Coulson move from the newsroom into the full glare of its spotlight.
    • How did phone hacking grow into a scandal that threatened Rupert Murdoch's hold on his global media business? Track all the major events.
    • Caption:LONDON, ENGLAND - DECEMBER 21: Prince William, Duke of Cambridge and Catherine, Duchess of Cambridge attend a reception during a visit to Centrepoint's Camberwell Foyer on December 21, 2011 in London, England. The national charity, Centrepoint, provides housing and support to improve the lives of homeless young people aged 16-25. (Photo by Ben Stansall-WPA Pool/Getty Images)

      The phone hacking trial revealed much about the inner workings of Rupert Murdoch's sex-and-scandal tabloids.
    • Rupert Murdoch (R) his wife Wendi Deng (C) and son Lachlan (L) leave their London home on April 26.

      Media expert Brian Cathcart says Fleet St. has grabbed its megaphone and started bellowing out its usual message: leave us alone.
    • Could the phone-hacking scandal prove to be a blessing in disguise for Murdoch? He claimed to have been "humbled" by the scandal.
    • The Leveson inquiry is a British government-backed inquiry into illegal eavesdropping and bribery by journalists. Read the final report by Lord Leveson.