By William Launder News Corp. (NWS, NWSA) has hired Centerview Partners LLC, Goldman Sachs Group Inc. (GS) and J.P. Morgan Chase & Co. (JPM) to advise the media conglomerate on the possible separation of the publishing and education businesses from its film and television assets, according to a person familiar with the matter. News Corp. already has a longstanding relationship with bankers affiliated with the firms. Centerview banker Blair Effron advised News Corp. on its takeover of Dow Jones & Co. in 2007, as did J.P. Morgan media banker Jimmy Lee. News Corp. owns Dow Jones, publisher of this newswire and The Wall Street Journal. The advisers will have responsibility for guiding News Corp. through a potentially complex separation process, which will include determining how to manage the company's current $10 billion share buyback program and how to divide its considerable balance sheet and other global assets. It wasn't clear if boutique investment bank Allen & Co., a long-time adviser to News Corp., would play a role in any separation. Allen & Co. banker Stanley Shuman is a director emeritus on the News Corp. board. Representatives for Goldman Sachs, J.P. Morgan, and Centerview didn't immediately respond to requests for comment. A spokeswoman for Allen & Co. declined to comment. --Brett Philbin contributed to this article. Write to William Launder at william.launder@dowjones.com
