News Corp. splitting into two firms?

By Erin Dismeier

Media conglomerate News Corp. has announced the company will split, separating its broadcast and entertainment sectors from its publishing sector.  The Associated Press says CEO Rupert Murdoch is optimistic about the split and his family will maintain control of both companies.

News Corp. owns several successful entertainment businesses, including 20th Century Fox and Fox News, as well as prominent publishing companies like The Wall Street Journal and The Times of London. Investors "pushed the company's Class B stock up 10 percent since the news of the plan broke early Tuesday," according to WSJ, but the financial worth of each company may not be what's exciting the world.