News Corp. to Split Company in Two

Yielding to calls by shareholders, News Corp. announced Thursday that it will spin off its newspaper-dominated publishing unit into a separate company.

The plan comes after the company's board, chaired by Rupert Murdoch, met Wednesday night to discuss the matter. Murdoch offered the following statement on Thursday:

"There is much work to be done, but our board and I believe that this new corporate structure we are pursuing would accelerate News Corporation's businesses to grow to new heights, and enable each company and its divisions to recognize their full potential - and unlock even greater long-term shareholder value."

The bisection would result in one company composed of enter…
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