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June 28th, 2012 
FAKE NEWS for the Zionist agenda - Board votes unanimously to approve the plan
- News Corp’s film and television businesses – including 20th Century Fox and the Fox broadcasting network – will be grouped in one company
- The other will hold publishing interests, such as The Wall Street Journal, The Times, The Sun, The Australian, The New York Post and HarperCollins
By
Graham Smith
02:32 EST, 28 June 2012
|
10:38 EST, 28 June 2012
Rupert Murdoch’s News Corporation is to split its newspaper business and entertainment operations into two separate companies.
News Corp’s board voted unanimously to approve the plan after the firm revealed it was considering the split earlier this week.
In a statement today, the firm said the split would leave investors holding shares in a ‘world-class publishing company’ and ‘an unmatched global media and entertainment company’.
Mr Murdoch, chairman and CEO of News Corp, said: ‘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 recognise their full potential – and unlock even greater long-term shareholder value.’
Moving forward: News Corporation – headed by Rupert Murdoch, pictured with his son James – is to split its newspaper business and entertainment operations into two separate companies
News Corp’s New York headquarters. The Murdoch family is not expected to lose any effective control of the businesses involved, which they exercise through a 40 per cent stake in the company
The move will see the group’s 39 per
cent stake in broadcasting giant BSkyB separately listed from the
embattled UK newspaper arm News International, which has been the focus
of the phone hacking scandal that led to the closure of the News of the
World tabloid.
News Corp’s film
and television businesses – including 20th Century Fox and the Fox
broadcasting network – will be grouped in one company.
The other company will hold all News
Corp’s publishing interests, such as The Wall Street Journal, The
Times, The Sun, The Australian, The New York Post and publisher
HarperCollins.
The entertainment arm would be by far
the bigger operation, with the publishing division hindered in recent
years by tough media market conditions and costs related to the phone
hacking scandal.
Mr Murdoch said: ‘We recognise that over the years, News Corporation’s broad collection of assets have become increasingly complex.
‘We determined that creating this new
structure would simplify operations and greater align strategic
priorities, enabling each company to better deliver on our commitments
to consumers across the globe.
‘I am 100 per cent committed to the
future of both the publishing and media and entertainment businesses
and, if the board ultimately approves a separation, I would serve as
chairman of both companies.’
Under scrutiny: Murdoch gives evidence at the Leveson Inquiry, the probe into media ethics which was set up following the phone-hacking scandal
Wide ranging: The Leveson Inquiry also questioned Prime Minster David Cameron over his close links to News International
On Tuesday, News Corp had said it was
‘considering a restructuring to separate its business into two distinct
publicly traded companies’, prompting its shares to jump as much as 8
per cent on Wall Street.
In
London, BSkyB shares raced 3 per cent higher amid market speculation
that the split will raise the possibility of News Corp reviving its
plans to take full control of BSkyB.
It
had to scrap a deal to buy the remaining stake of BSkyB in the wake of
the phone hacking scandal, but a restructuring has the potential to
effectively quarantine the scandal-hit papers from the rest of the group
and pave the way for the deal to be resurrected.
News Corp was rocked by the hacking debacle, with Rupert Murdoch and his son James Murdoch coming under heavy fire.
A
report by a committee of MPs claimed Rupert Murdoch was ‘not a fit
person’ to run an international company following an inquiry by the
Commons Culture Committee investigating the News of the World scandal.
News Corp has been trying to contain the scandal from infecting the rest of the group.
James
Murdoch resigned as chairman of BSkyB in April admitting he had become
its ‘lightning rod’, just weeks after he quit as boss of News
International.
Change of plan: James Murdoch was supposed to succeed his father as CEO, a move that was halted by the phone-hacking scandal at the company’s British newspapers
The resulting Leveson Inquiry into media ethics has questioned an array of senior figures in politics and the
media, including Prime Minister David Cameron, former News International
chief executive Rebekah Brooks and Mr Cameron’s former director of
communications Andy Coulson.
Several News of the World and Sun
journalists have been arrested in the parallel criminal investigations
into phone hacking and corrupt payments to police.
WaveStone Capital co-founder Ian Harding, a shareholder of News Corp, told Deal Journal Australia that
such break-offs often add value to companies because it makes it easier
for investors to more accurately assess the smaller businesses.
He said: ‘Generally
speaking, spin-offs are good news because a sum-of-the-parts is often
greater than the whole and they tend to liberate hidden value and
sometimes generates corporate appeal for separated vehicles.’
News
Corp last month reported a strong gain in quarterly profits, boosted by
Hollywood entertainment and cable television operations in the United
States, Asia and Latin America.
The
conglomerate said profits in the fiscal third quarter ended March 31
leapt 47 per cent to $937million, as revenues rose two percent to $8.4billion.
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Typical Brits comments by the SKY knockers – who I would imagine have SKY in their own home and paid for by benefits. As for a committee of MPs claimed Rupert Murdoch was ‘not a fit person’ to run an international company, what qualifies them to know and state who is fit or not fit to run an International Company? It was a Tom Watson MP(qualifications unknown) led witchhunt, Most of them are not qualified to represent the people who elected them.
I would prefer the same dedication and attacks by a committee of MPs on the performance of the last Union run Labour Party which destroyed the United Kingdom to the core and lied about everything as they put their party and their Union backers before the country.
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“News Corp WILL be split in two as board unanimously approves plan to make news and entertainment separate”————I can’t see much difference between the two!
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Splitting the trough in a move to clean up the sky – sorry sty? Same snouts and trotters!
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Mailman, London UK 28/6/2012 said “Id LOVE to see the BBC split up, disband the political arm of the Labour party ” ……. and SKY TV isnt the the political arm of the Tories?
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Oh come on, we all know why this decision has been made. This is an act of self preservation.
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At some stage in the near future the publishing side of the business will probably be sold or taken off the streets.
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Id LOVE to see the BBC split up, disband the political arm of the Labour party, split entertainment out and let the news side go free (ie. get out there and earn its money in a competitive market!).
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You cannot make a bad apple taste good, no matter how you package it.
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Same Executives – rotten amples.
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