FILE- This combination of Associated Press file photos show a Fox Sports logo, left, and a person holding a copy of a Wall Street Journal, right. Rupert Murdoch's News Corp. said Thursday, June 28, 2012, that it plans to split into two separate companies, one holding its newspaper business and the other its entertainment operations. (AP Photo/Ross D. Franklin, Matt Dunham, File)
FILE- This combination of Associated Press file photos show a Fox Sports logo, left, and a person holding a copy of a Wall Street Journal, right. Rupert Murdoch's News Corp. said Thursday, June 28, 2012, that it plans to split into two separate companies, one holding its newspaper business and the other its entertainment operations. (AP Photo/Ross D. Franklin, Matt Dunham, File)
FILE- This Monday, Feb. 1, 2010, file photo, shows News Corp.'s headquarters in New York. Under pressure to limit contagion from the British phone hacking scandal, Rupert Murdoch's News Corp. confirmed Tuesday, June 26, 2012, that it is considering splitting into two publicly traded companies. The Wall Street Journal, News Corp.'s flagship newspaper, reported late Monday that the company is considering the separation of the newspaper and book publishing businesses from the entertainment arm, which includes Fox News Channel, broadcast TV network and 20th Century Fox movie studio. The media conglomerate did not specify Tuesday which businesses each company would contain. (AP Photo/Mark Lennihan, File)
News Corp. said Thursday that its board has approved plans to split into two companies. One company will operate as a newspaper and book publisher, while the other will be an entertainment company.
Here's how the split will work:
? Newspapers, book publishing and information services such as Dow Jones Newswires will be part of the publishing company. The 20th Century Fox movie studio, the Fox broadcast TV network and the Fox News channel will be part of the media and entertainment company.
? Shareholders will get a share in each company for every share of News Corp. they now own. That ratio may change by the time the plan is finalized. Both companies will trade publicly, under different stock tickers.
? Rupert Murdoch will be chairman of both companies and CEO of the media and entertainment company. The company did not name a CEO for the publishing business.
? News Corp.'s board unanimously approved the split, but it will need to approve a more formal proposal. The deal is also subject to shareholder and numerous regulatory approvals.
? News Corp. plans to hold a special meeting of its shareholders in the first half of 2013 and expects the deal to be completed in about a year.
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