News Corp. Considers Dividing Company

NEW YORK: News Corporation has confirmed that it is considering "a restructuring to separate its business into two distinct publicly traded companies."

The Wall Street Journal reported earlier today that News Corp. is looking into separating its publishing assets from its entertainment businesses. The move comes in the wake of the phone-hacking scandal at News Corp.’s British newspapers, the fallout of which scuppered the company’s attempts to take full control of BSkyB.

While News Corp.’s statement confirms that it is mulling a separation of the company, no details were provided on how the conglomerate might be broken up. The news saw News Corp.’s share price rise by some 7 percent in early morning trading.