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Economy

Murdoch's News Corp Considers Splitting In Two

Worldcrunch

REUTERS, NEW YORK TIMES, WALL STREET JOURNAL

Rupert Murdoch's News Corp is considering splitting itself into two separate companies, according to a number of news reports. The Wall Street Journal, which is owned by News Corp, said that the TV and entertainment businesses would be separated from publishing in the proposed division.

Australian stock in News Corp. jumped 2.41% following reports of the split.

Shareholders have been pushing for a spin-off of the slower-growth publishing division after a phone hacking scandal hit its British newspapers, sending shockwaves through the group and forcing News Corp to pull its biggest-ever acquisition of the pay-TV group BskyB, Reuters reports.

A final decision on the split has yet to be made; Robert Peston, Business Editor for the BBC, said on Twitter: "News Corp won't comment on story in house-newspaper @WSJ that all newspapers to be put into separate company. Will be seen as confirmation".

The New York Times added that with 40% of the voting shares, the Murdoch family would retain control of both companies.

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Drones On Moscow, Maduro Back In Brazil, Cheese Race Win By KO

Brazilian President Luiz Inacio Lula da Silva with Venezuela's President Nicolás Maduro.

Emma Albright, Laure Gautherin, Sophie Jacquier, Marine Béguin and Anne-Sophie Goninet

👋 Lasso fyafulla!*

Welcome to Tuesday, where two people were injured as Moscow has been targeted by another drone attack, Venezuela’s President Maduro is welcomed back in Brazil for the first time since 2019, and a woman wins UK’s annual cheese race by knockout. Meanwhile, Joanna Wisniowska in Warsaw-based daily Gazeta Wyborcza writes that Poland may have been a little too successful at safeguarding its moose population …

[*Tamang, Nepal]

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