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News Corp officially splits in two [View all]
Source: BBC News
Rupert Murdoch's media empire, News Corporation, has officially split into two separate companies.
The corporation's more profitable entertainment arm, which includes a Hollywood film studio, is being spun off under the name 21st Century Fox.
The publishing arm, which includes the Sun and the Times in the UK, and the Wall Street Journal and the New York Post, will retain the News Corp name.
Mr Murdoch says the move will unlock value for shareholders.
Its publishing wing made a $2.1bn (£1.3bn) loss in the last financial year.
Read more: http://www.bbc.co.uk/news/business-23104822
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