Murdoch Discusses Why He's Splitting News Corp

Subscribe to Rupert Murdoch alerts

Rupert Murdoch spent much of Thursday discussing his decision to split his News Corp media empire into two companies, one for entertainment, the other for newspaper and book publishing, but denied that it was "in any sense a reaction to anything in the U.K." It was about as far as he would come to mentioning the scandals involving telephone hacking and alleged bribery of police that have thrown News Corp into turmoil for more than two years. Appearing on his own Fox Business channel he remarked "There are billions and billions of dollars, and if Britain didn't want 'em, there are plenty of good places to put them here. I'm much more bullish about America than I am about England [sic]." Asked whether his attitude was related to what he went through with the hacking scandal and his subsequent decision to withdraw his bid to buy all of the BSkyB satellite provider, Murdoch replied, "No, not at all, just the English." (Even Murdoch's own Wall Street Journal , referring to Murdoch's comment, reported "People close to the company say it has been impossible to ignore the negative effect of the U.K. tabloid scandal on the rest of the company.") And while Murdoch maintained that the split had been under consideration for three years, when it actually came there was no indication who would take over the reins at the troubled publishing company as CEO (Murdoch said that he would remain chairman of both companies and CEO of the entertainment one) or what it would be called. (Ironically it seemed that the company that actually will produce the news will not wind up with the News Corp name.) Several analysts predicted that it would be sold, sooner rather than later.



Tags: Rupert Murdoch - Wall Street

Subscribe to Rupert Murdoch alerts

More Rupert Murdoch

Rupert Murdoch Causes Controversy On Twitter (Again!), Defends 'Racially Insensitive' Casting Of 'Exodus: Gods & Kings'

Media tycoon Rupert Murdoch has defended the casting of Exodus: Gods and Kings after reviews and social media users claimed the film was racially inaccurate...

"Old Fashioned?" Rupert Murdoch Hints at U-Turn on Page 3 Girls

Page 3 girls could be replaced by 'beautiful young woman in fashionable clothes' after Rupert Murdoch called his own creation "old-fashioned". The founder of The...

George Clooney Going after News Corp with Phone Hacking Movie

Oscar-winner George Clooney is ready to put the disappointment of The Monuments Men behind him and dive straight back into directing, helming a film about...

Malorie Blackman Fights Back After Inaccurate Headline Incites Racist Abuse

The children's laureate Malorie Blackman says she will not let "haters" silence her after an inaccurate headline on Sky News led to the author receiving...


Sky Buy Up The Production Company Behind Benefits Street And The Great British Bake Off

BSkyB has made a significant purchase, prising independent company Love Productions from the grasp of terrestrial TV channels.The deal sees BSkyB own a 70% stake...

Jennifer Lawrence Stuns In Blue Velvet At The World Premiere of 'X-Men: Days Of Future Past' - Part 4

Jennifer Lawrence looked breath-taking in blue velvet at the world premiere of 'X-Men: Days Of Future Past' held at the Jacob Javits Center in New...

The Most Expensive Celebrity Divorces Of All Time

It’s been great to see Elin Nordegren has finally been moving on since her 2010 split with golf pro Tiger Woods. Nordegren has recently been...

Wendi Deng Murdoch Besotted With Tony Blair?

Wendi Deng Murdoch, the former wife of media mogul Rupert Murdoch, was seemingly infatuated with former British Prime Minister Tony Blair. In a love letter...



Rupert Murdoch Newsletter

Subscribe to this news alert service to receive news and reviews on Rupert Murdoch

Unsubscribe | Unsubscribe All