News Corp.'s board of directors were expected to begin meeting Wednesday (June 27) to discuss the possibility of splitting its operations into two separate publicly traded entities, with a final decision expected to be announced by June 28, according to a report in the Wall Street Journal.
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.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.