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June 12, 2013 by · Leave a Comment 

Shareholders have approved Rupert Murdoch’s plan to divide News Corp into two companies: one, to be called 21st Century Fox, to comprise the company’s entertainment units, including the 20th Century Fox studio and the Fox broadcast and cable networks, and the other, to retain the name News Corp, to comprise the company’s newspaper and publishing businesses. Murdoch will retain the titles of chairman and chief executive of 21st Century Fox, as well as executive chairman of News Corp. “Today’s announcement is a significant step in creating two independent companies with the world’s leading portfolios of publishing and media and entertainment assets,” Murdoch said following the shareholders vote. ” “We continue to believe that the separation will unlock the true value of both companies and their distinct assets.”