News Corp Execs Meet to Discuss Breakup
By Kymberly Bays on 06/26/2012 in media, news corporation, rupert murdoch, wall street journal with 1 CommentRead Time: < 1 minute
The media juggernaut, News Corporation, is holding a top-level meeting today in New York City to discuss the future of the company, according to New York Times’ DealBook. Specifically up for discussion is a potential breakup between the company’s newspapers and other entertainment entities.
From the Times article:
The spinoff, which could be announced as early as this week, comes as News Corporation’s newspapers, once the foundation of Rupert Murdoch’s $50 billion media empire, face financial strain and a decline in print advertising. The company’s British publishing unit, meanwhile, is still reeling from a phone-hacking scandal that led to the closure of its News of the World tabloid.
Following news of the potential split, News Corp stocks jumped 8%.





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1 Comment
Dan Richards
06.27.2012
@danrich
This does not surprise me none. The writing has been on the wall for a long time. Print news has been becoming a thing of the past, and dying out. Most people now it seems buying news papers are getting them for the coupons, not the news.