1. It’s Official

    News Corp. Splits Print, Entertainment

    News about Rupert Murdoch is displayed on the Fox News ticker at a building which houses the News Corp. headquarters, Friday, July 15, 2011, in New York. Murdoch accepted the resignation of The Wall Street Journal's publisher and the chief of his British operations on Friday as the once-defiant media mogul struggled to control an escalating phone hacking scandal with apologies to the public and the family of a murdered schoolgirl. The controversy claimed its first victim in the United States as Les Hinton, chief executive of the Murdoch-owned Dow Jones & Co. and publisher of the Wall Street Journal, announced he was resigning, effective immediately. (AP Photo/Mary Altaffer)

    Mary Altaffer/AP

    On Friday, Rupert Murdoch’s News Corp. was split into two separate companies, dividing print from entertainment and broadcast. The plan was announced last year, and approved by shareholders earlier this month. The entertainment and broadcast section will be named 21st Century Fox, and the print organization keeps the News Corp. title, now the largest U.S. print-media company.

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