Media and entertainment giant News Corp. (NWS: Quote,NWSA: Quote) is edging higher in pre-market trading on a report that it plans to separate its publishing and entertainment businesses.
Shares of News Corp. are gaining $0.82, or 4 percent, to $21.10.
The Wall Street Journal, quoting people familiar with the situation, reported that News Corp. is looking to split into two companies. The first would consist of its publishing business, including the Wall Street Journal, the Times of London and HarperCollins book publishing. The other company would contain assets like 20th Century Fox film studio, Fox broadcast network and Fox News channel.
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by RTT Staff Writer
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