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News Corp. Officially Announces the Splitting of its Company in Two

News Corp. (NWSA), the media company controlled by Rupert Murdoch, said it plans to split into two after its board approved the move separating publishing assets from entertainment businesses.

The publishing business consists of newspapers in the U.S., U.K. and Australia, as well as book, education and marketing assets, according to a statement from the company today. The media and entertainment company includes film and TV assets. Murdoch will be chairman of both companies and Chief executive officer of the media business.”

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