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News Corp

June 28, 2012

Plans to split News Corporation into two separate companies have been given the go ahead, after the media conglomerate’s board voted in favour of the division. 

Plans to split News Corporation into two separate companies have been given the go ahead, after the media conglomerate’s board voted in favour of the division.

The company confirmed on 28 June the board has tasked management with looking at how family-controlled News Corp could be split into an entertainment business on one side and a publishing and education company on the other.

June 26, 2012

Media conglomerate News Corporation, controlled by the Murdoch family, confirmed today (26 June) that it is considering splitting its business – a move that will separate its film and television operations from its publishing division.

Media conglomerate News Corporation, controlled by the Murdoch family, confirmed today (26 June) that it is considering splitting its business – a move that will separate its film and television operations from its publishing division.

May 9, 2012

Prince Alwaleed Bin Talal, one of News Corporation’s biggest shareholder, is “unwavering” in his support of Rupert Murdoch, but he also admits the phone-hacking scandal has damaged the family-controlled company’s reputation.

Prince Alwaleed Bin Talal, one of News Corporation’s biggest shareholder, is “unwavering” in his support of Rupert Murdoch, but he also admits the phone-hacking scandal has damaged the family-controlled company’s reputation.

May 2, 2012

Ask News Corp’s communications team whether the media group is a family business and they will reply no. But if News Corp is to start rebuilding its reputation hurt badly by the hacking scandal in the UK, then maybe it should start seeing itself as a family business – and start following the best practices followed by family-run companies.

Ask News Corp’s communications team whether the media group is a family business and they will reply no.

But if you apply the standard definition of what constitutes a family business – 25% or more of the company is owned (voting or capital) by the same family, at least one family member is involved in management of the business, and the company is at least in its second generation of family control – then News Corp is a family business.

May 1, 2012

Rupert Murdoch, the 81-year-old patriarch of family-controlled News Corporation, has been branded unfit to lead a major international company by British MPs. 

Rupert Murdoch, the 81-year-old patriarch of family-controlled News Corporation, has been branded unfit to lead a major international company by British MPs.

Members of the Commons culture, media and sport select committee, in a report published on 1 May, said Murdoch turned “a blind eye” and “exhibited wilful blindness to what was going on in his companies and publications”.

April 19, 2012

Rupert Murdoch’s grip on News Corporation seemed to weaken on Wednesday, after a breach of US law forced the media conglomerate to suspend the voting shares of some of the 81-year-old’s biggest allies. 

Rupert Murdoch’s grip on News Corporation seemed to weaken on Wednesday, after a breach of US law forced the media conglomerate to suspend the voting shares of some of the 81-year-old’s biggest allies.

In a statement, News Corp said that in order to comply with foreign ownership rules relating to the US 1934 Communications Act, it was suspending 50% of the class B voting rights of its non-US investors.

April 4, 2012

Anyone who has ever said business is less interesting than sport has got to have his or her head tested. And if you add family business into the mix, then things get even zippier.

Anyone who has ever said business is less interesting than sport has got to have his or her head tested. And if you add family business into the mix, then things get even zippier.

In time to come, a movie will be made about the life of Rupert Murdoch and – even if it’s most unlikely Fox Searchlight will be the studio that makes it – it has the potential to follow Citizen Kane with which it has many fascinating parallels.

April 3, 2012

A powerful US investment body has called for Rupert Murdoch’s dual role as chairman and chief executive of family-controlled News Corporation to be split, in a bid to address the media conglomerate’s “lax ethical culture” and “lack of effective board oversight”.

A powerful US investment body has called for Rupert Murdoch’s dual role as chairman and chief executive of family-controlled News Corporation to be split, in a bid to address the media conglomerate’s “lax ethical culture” and “lack of effective board oversight”.

Christian Brothers Investment Services wants an independent chairman to be appointed to improve governance and represent “the interests of all shareholders”, not just the Murdoch family.

November 22, 2011

News Corporation chairman and chief executive Rupert Murdoch has sold over 90% of his class A stock in the family-controlled media conglomerate but will remain in control of the company thanks to its dual-class share system.

News Corporation chairman and chief executive Rupert Murdoch has sold over 90% of his class A stock in the family-controlled media conglomerate but will remain in control of the company thanks to its dual-class share system.

According to a filing with the Securities and Exchange Commission, between 16 and 17 of November, the 80-year-old sold 3.6 million of the company’s class A shares, worth about $17 (€12.5) each, for a total of $62 million.

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