News Corp Confirms Plan To Split Its Publishing And Entertainment Businesses

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6/26/2012 10:38 AM ET

Diversified global media company News Corporation (NWS: Quote,NWSA: Quote) Tuesday confirmed that it is considering a restructuring to separate its business into two distinct publicly traded companies.

The two businesses that the company is mulling to split include the entertainment business and the publishing business.

News Corporation's publishing business consists of the Wall Street Journal, HarperCollins book publishing and the Times of London.

The entertainment business of News Corporation include the Fox News channel, Fox broadcast network and the 20th Century Fox film studio.

Following the news, the stock price of News Corp has gained mor3e than 6 percent in the stock market.

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