The News Corp. board has given preliminary approval to a plan to split the $60 billion media giant into two publicly traded companies, one comprising News Corp.'s TV and movie operations and the other its newspaper and book publishing empire, a source tells Reuters. Rupert Murdoch, after years of swatting down calls from large shareholders for such a split, is said to have proposed the new plan himself. "As recently as a month ago he was still saying no way would he do this," says one insider. Dividing the company will take up to a year, and the structure and leadership of the two divisions is still being worked out. Most executives are expected to jockey for positions at the profitable entertainment business.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Watch out, China — America is working on dogfighting drones
- How liberals are unwittingly paving the way for the legalization of adult incest
- 43 TV shows to watch in 2014
- Why the Chinese military is only a paper dragon
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- How the Simpsons/Family Guy crossover revealed the worst of both shows
- The troubling persistence of eugenicist thought in modern America
- Why America won't have enough money to battle ISIS
- Libertarianism's terrible, horrible, no good, very bad idea
- 11 facts yü should know about the umlaut
Subscribe to the Week