News Corp. Files to Split the Company
In an SEC filing today, News Corp. (NASDAQ: NWS) indicated that it would call a special stockholders meeting to approve "the contemplated separation of our media and entertainment business and our publishing business." No date for the meeting has been set.
The publishing company would hold assets including The Wall Street Journal, The New York Post and the Times of London, while the media and entertainment company would include the company's cable channels FX, Fox News, 20th Century Fox Studios and Fox Broadcasting. HarperCollins publishing and an education division would also go to the new publishing company.
The company's dual-share structure would not change, leaving control of both new companies in the hands of Rupert Murdoch and his family.
Shares of News Corp. closed at $26.07 last night and are inactive in premarket trading this morning. The stock's 52-week range is $17.79 to $26.24.
The full SEC filing is available here.
Filed under: 24/7 Wall St. Wire, Entertainment, Media, Shareholder Issues Tagged: NWS