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Embattled Rupert Murdoch’s empire, News Corp. appears to be planning a spin-off of its core businesses.
Its own flagship newspaper, The Wall Street Journal, has reported this week that the company’s board is considering a proposal that will make its publishing arm into a separate company.
Springhill Group Home analysts expect such separation of assets would appease regulators and could help it to avoid selling a USD 6.9 billion stake. Fortunately, the same became true for investors as the announcement was met with the rallying of News Corp’s stock to 8.3% high — the highest level it has reached since 2007.
“News Corp. has one of the best TV businesses, but some people like musty, dusty publishing companies that pay great dividends. It’s a good thing for shareholders.” said an analyst from Lazard Capital.
The media conglomerate has not yet specified which business units would be grouped together but the company is reportedly mulling to separate the entertainment operations from the book and newspaper publishing one.
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