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News Corp board unanimously approves plan to split media firm | | Media tycoon Rupert Murdoch's News Corporation's board
members have unanimously approved a plan to split the media conglomerate in two pieces, people familiar with the matter have revealed. The firm has planned to
separate its publishing assets from its entertainment businesses. The board made
the decision after a meeting in New York on Wednesday evening that lasted roughly
an hour and a half, the person said. According to the sources many details such
as who will run the publishing business have yet to be resolved. The split is
expected to be formally announced early Thursday morning, The Wall Street Journal
reports. After the division, one company will house entertainment businesses like
20th Century Fox, Fox broadcast network and the Fox News Channel. Another company
will include The Wall Street Journal and the Times of London along with HarperCollins
book publishing and News Corp.'s education business.
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