News Corp. Board Approves Split

    NEW YORK - MAY 01:  The News Corporation building is shown May 01, 2007 in New York City. Rupert Murdoch's News Corporation made an unsolicited bid  today of $5 billion for Dow Jones and Co., the parent company of the The Wall Street Journal.   (Photo by Michael Nagle/Getty Images)

    Michael Nagle / Getty Images

    News Corp. on Thursday approved a split between the publishing and entertainment divisions—and Rupert Murdoch will chair both. The entire process is expected to take a year. Under the split, 20th Century Fox, Fox broadcast network and Fox News will be included in the entertainment company while HaperCollins, The Wall Street Journal and Britain's Sun newspaper will be in a separate company. Shares of the company’s stock have risen 11 percent since News Corp. acknowledged it was considering the split.

    Read it at The Wall Street Journal