News Corp. Considers Two-Way Split

In this file photo, shows News Corp.’s headquarters in New York. Under pressure to limit contagion from the British phone hacking scandal, Rupert Murdoch’s News Corp. confirmed Tuesday, June 26, 2012, that it is considering splitting into two publicly traded companies.

The Wall Street Journal, News Corp.’s flagship newspaper, reported late Monday that the company is considering the separation of the newspaper and book publishing businesses from the entertainment arm, which includes Fox News Channel, broadcast TV network and 20th Century Fox movie studio. The media conglomerate did not specify Tuesday which businesses each company would contain. <AP/Newsis>

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