News Corp. Split Official on June 28

May 28, 2013

News Corp. says that on June 28 2013 the split between its entertainment and publishing arms will be official. Current chairman and CEO Rupert Murdoch will head both wings of the company.

The publishing arm of the company - which owns newspapers like The Wall Street Journal as well as book publisher HarperCollins - will retain the News Corp. moniker while the entertainment arm will become 21st Century Fox. The original announcement of the impending split came last year, perhaps as a reaction to the phone-hacking scandal that rocked News Corp. and forced it to close its tabloid News of the World.