News Corp. Files to Split the Company
ThinkstockIn 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…
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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.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
