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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