News Corp. Files to Split the Company

December 21, 2012 by Paul Ausick

magazines
Source: Thinkstock
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

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Posted in Media | Comments Off on News Corp. Files to Split the Company