“(Reuters) – Rupert Murdoch’s News Corp formally applied to the U.S. Securities and Exchange Commission to separate its businesses into two independent, publicly traded companies.
News Corp said in June that it would separate its publishing and entertainment assets after shareholders pressed it to get rid of its troubled newspaper business.
A phone hacking scandal hit the company’s British newspapers earlier this year, forcing it to drop its proposed purchase of pay-TV group BSkyB.
The filing starts a process of providing details about the two new companies and the manner in which they will be separated, News Corp said in a statement.”
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