News Corporation early Thursday formally announced its intent to split into two companies, separating its publishing and entertainment operations. Rupert Murdoch, chairman and CEO, said the split would “accelerate News Corporation’s businesses to grow to new heights.” In a statement, he continued:
We recognize that over the years, News Corporation’s broad collection of assets have become increasingly complex. We determined that creating this new structure would simplify operations and greater align strategic priorities, enabling each company to better deliver on our commitments to consumers across the globe. I am 100 percent committed to the future of both the publishing and media and entertainment businesses and, if the Board ultimately approves a separation, I would serve as Chairman of both companies.”
