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Murdoch, Announcing News Corp. Split, Calls Newspapers ‘Viable’ and ‘Undervalued’ By AMY CHOZICK

11:39 a.m. | Updated Rupert Murdoch confirmed Thursday morning that News Corporation, his $54 billion media conglomerate, will proceed with a plan to divide the company in two — separating newspapers like The Wall Street Journal, The New York Post and The Times of London from the fast-growing entertainment unit.

In a news release, the company said the split would be completed within the next 12 months, with Mr. Murdoch serving as chairman of both companies and chief executive of the entertainment business. Chase Carey would remain chief operating officer of the entertainment group, which would include cable channels like FX and Fox News, the 20th Century Fox studio and Fox Broadcasting. In the coming months, the board of directors would decide the leader of the publishing business.

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Originally posted by RionaEire: I've always thought that with CNN and FOX there should be two channels each, one for straight news, someone just reads the news and shows footage, and one for talk shows. CNN already has two channels but they aren't divided thusly. If this were inacted everyone would be happier.

I have Kathy Bates on speed dial, mwa ha ha ha (in exaggeratedly evil voice)

"A completely coherant River means writers don't deliver" KatTaya.

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