July 27, 2012

The Beast With Two Heads: Murdoch Splits Publishing and Entertainment

Rupert Murdoch has confirmed he is to split News Corporation, the $54bn global media company he has built over 60 years, into two separate publicly listed companies – newspapers, book publishing and education; and media and entertainment.

Murdoch, chairman and chief executive of News Corp, will be chairman of both companies, but has not said he will hold an executive role in the newspaper business, which he has built up since taking over as proprietor of the Adelaide News in 1953. No announcement was made when News Corp confirmed the split on Thursday about who would head the publishing company.

[...]

“Our aim is to create the most ambitious, well-capitalised and highly motivated publishing company in the world, consisting of the largest collection of our news and publishing brands, as well as our groundbreaking digital education group; we will also work to create the world’s top media and entertainment company, encompassing our premier broadcast and cable networks, leading film and television production studios and highly successful pay-TV businesses.”

Read More »