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News Corp confirms it's considering split

Wed June 27, 2012 2:01am

Rupert Murdoch's News Corp has confirmed it is considering splitting into two publicly traded companies.

THE media conglomerate did not specify on Tuesday which businesses each company would contain. The Wall Street Journal reported late on Monday that a split would put the entertainment arm, including the 20th Century Fox film business and the Fox TV networks, into a separate company from News Corp's newspaper and book publishing businesses.

News Corp's entertainment business accounted for about 75 per cent of the company's revenue in the first three months of the year.

The Wall Street Journal is owned by News Corp.

News Corp shares are up nearly eight per cent in morning trading, touching a new 52-week high.

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