News Corp shareholders approve split

June 11th, 2013 in Technology / Business

News Corp. says its shareholders have approved a plan to split into two publicly traded companies.

The company says approval came with an overwhelming majority of support. It did not immediately break down vote totals.

. said Tuesday that it expects to complete the separation of its entertainment and publishing businesses on June 28. The company's board of directors approved the split last month.

After the split, the company holding its TV and movie properties will be 21st Century Fox. The new News Corp., a smaller entity, will be focused on newspapers and publishing. Both will be publicly traded, under separate ticker symbols.

will be chairman of both companies and CEO of Fox.

© 2013 The Associated Press. All rights reserved.

"News Corp shareholders approve split." June 11th, 2013. http://phys.org/news/2013-06-news-corp-shareholders.html