Murdoch's News Corp Has Now Split In Two

This is the day (Friday) that News Corp officially splits in two -- with its entertainment assets, including its 20th Century Fox studio and Fox Television Network, being grouped under the brand name 21st Century Fox and its newspaper and publishing assets, including the Times of London, the tabloid London Sun, and the New York Post, the Wall Street Journal and Harper-Collins Publishers being reassembled under the old News Corp brand. In an interview with the London Financial Times, Robert Thomson, the CEO of the new News Corp, predicted that all of the newspapers will be transformed into digital platforms within two years. Some of the most successful recent [Internet] start-ups are basically ersatz tabloid journalism, he told the FT. If we can't do it better than they can, then we're not as good as we think we are. Also on this day, a British appeals court rejected an appeal by five former executives of News Corp's London newspaper group News International (recently rebranded as News U.K.) to have the charges against them of phone hacking set aside. The five defendants include former News International CEO Rebekah Brooks and Andy Coulson, the former editor of the now-defunct tabloid News of the World, who went on to become Prime Minister David Cameron's spokesman until the hacking scandal broke. Their trial is due to take place in September. Oddly, 21st Century Fox, not the new News Corp, will be paying their legal fees and will also be paying the costs of additional litigation involved in the hacking scandal.


Tags: Wall Street - David Cameron


More Wall Street

Miley Cyrus Covers Up More Than Usual At FGI Night Of Stars Gala - Part 2

It truly was what it said on the tin at the Fashion Group International's 30th Annual Night Of Stars held at Cipriani Wall Street in...

Leonardo DiCaprio Shoots Scene On Wolf of Wall Street Set

'Inception' actor Leonardo DiCaprio is snapped shooting a scene on the set of his upcoming crime drama movie 'Wolf of Wall Street'. He is seen...


Sean Lennon And Friends Cover Material Girl At Occupy Wall Street

Singer songwriter and film scorer Sean Lennon; his girlfriend Charlotte Kemp Muhl; Charlotte's childhood friend Eden Rice; Rufus Wainwright and Dustin Hamman serenade the crowd...

Sean Lennon Snaps Occupy Wall Street Protestors

Singer songwriter Sean Lennon, his girlfriend Charlotte Kemp Muhl, and Charlotte's childhood friend Eden Rice (who is seen sitting in the background) visit the Occupy...



Wall Street Newsletter

Subscribe to this news alert service to receive news and reviews on Wall Street

Unsubscribe | Unsubscribe All