News Corp. announced 21st Century Fox as the new name for the
television and entertainment company that will emerge from the
spin-off of News Corp.'s journalism and publishing assets.
The company will hold the bulk of News Corp's businesses,
including the 20th Century Fox film studio, Fox broadcast network
and Fox News Channel. The new name replaces the previously
announced name Fox Group. The publishing company to be spun off
will retain the News Corp. name, the company has previously
said.
In a statement, News Corp. Chairman and Chief Executive Rupert
Murdoch said the new name of the entertainment company "draws upon
the rich creative heritage of our film studio, while also speaking
to the innovation and dynamism that define all of our global media
and entertainment businesses and will guide us into the
future."
News Corp. is expected to complete its split later this year.
The publishing company will be comprised of businesses including
Dow Jones, publisher of The Wall Street Journal and Dow Jones
Newswires, book publisher Harper Collins and News International,
the company's U.K. news division as well as News Corp's Australian
newspapers.
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