- ‘Tis the Season: London florist creates $4.6 million Christmas wreath
- No tailgating allowed at Super Bowl XLVIII
- Pentagon to transport African troops to Central African Republic
- Chinese man fed up with his girlfriend’s shopping jumps to his death
- Ukraine leader to talk with protesters; Washington urges caution
- Pope Francis: A nun saved my life
- Israeli P.M. Netanyahu backs out of Mandela funeral
- Elian Gonzalez makes first trip outside Cuba since custody battle
- U.S., British intelligence agents enter online sci-fi world to spy on gamers
- Sarah Palin to host the outdoors show ‘Amazing America’
Details on how News Corp. split will work
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.
By Brahma Chellaney
Beijing's creeping aggression signals a challenge to U.S. presence in the Asian Pacific
- Chinese man fed up with his girlfriend's shopping jumps to his death
- CURL: Obama tells a whopper on IRS scandal
- Satanists petition for statue at Oklahoma Statehouse
- Lawmakers see 'false narrative' of Obama as a terrorist fighter
- Ted Cruz sees legal landmines ahead for Obamacare
- Obama lied about Syrian chemical attack, 'cherry-picked' intelligence: report
- MILLER: Brady Campaign says Colorado recalls due to NRA, not grassroots opposition to gun control
- Bill OReilly reminds: Nelson Mandela was a communist
- Tech companies call for an end to NSA online snooping
- MSNBC host: Obamacare a 'wealthy white men' racist word
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White House pets gone wild!
Let it snow