The board of the News Corporation, which is headed by media industry tycoon, Rupert Murdoch, has approved a plan to split the company's entertainment businesses from the publishing division.
The company announced the names of the board of the directors, details of the share distribution and announced a $500 million stock-buyback program for the News Corp following the split up of the company. The company is also planning to write down the value of its publishing business by $1.2 billion to $1.4 billion this quarter.
London, Feb 7 : Media tycoon Rupert Murdoch has waded into the row over cyber-attacks from China, by tweeting that hackers are still targeting the American newspaper.
The Wall Street Journal, owned by Murdoch's News Corporation, was one of several media organisations to disclose that it had been targeted by Chinese hackers.
The WSJ had previously reported that hacking groups had entered its network via computers in its Beijing office, the BBC reports.
London, Jan 29 : Media tycoon Rupert Murdoch has apologized for a "grotesque" cartoon in his London-based Sunday Times newspaper that depicted Israeli Prime Minister Benjamin Netanyahu building a brick wall containing the blood and limbs of Palestinians.
The cartoon had a text, saying `Israeli elections. Will cementing peace continue?'
The board of the News Corporation, which is headed by media industry tycoon, Rupert Murdoch, is reported planning to split the $ 60 billion media conglomerate into two separate entities.
The board will split the group into separate units each responsible for publishing and entertainment businesses, according to people closer to the matter. The board met on Wednesday and is set to announce a decision on Thursday to create two publicly listed companies.
Media baron, Rupert Murdoch has asked all the newspaper websites to charge a premium and not to continue with their free services.
The News Corporation's spirited chairman continued with his defensive stance against the search engines and said that Google, in particular, has stolen away journalism from the traditional media companies. He also urged the newspaper industry to stand together and face the threat that it faces from the online industry.
London, Aug. 22 : The Rupert Murdoch-owned Nationwide News Pty Ltd has apologised and agreed to pay damages after one of its journalists wrote an article in which an English Muslim cricketer was subject to "offensive remarks".
According to The Age, the England and Wales Cricket Board (ECB) said yesterday that Sydney-based Nationwide News would pay "significant damages and costs as well as offering an unreserved apology for offensive remarks".
London, Aug 6 : Global media mogul Rupert Murdoch has signaled that The Times and The Sun would begin charging for access to their websites within months, saying that quality journalism must come at a price.
“Quality journalism is not cheap, and an industry that gives away its content is simply cannibalising its ability to produce good journalism," The Independent quoted Murdoch, as saying.
Murdoch further revealed that plunging revenues from his newspapers had pushed the company into the red.
New York - Rupert Murdoch's US-based media conglomerate News Corporation Wednesday reported fourth-quarter losses of 203 million dollars, citing writedowns at its internet unit and diving advertising income.
The figures compared to the 1.1 billion dollars in profits reported for the same period of 2008 by News Corp, which counts Fox broadcast network and the Wall Street Journal as the stars of its multi-faceted empire.
For the budget year ending June 30, 2009, News Corp was bracing for losses of 3.4 billion dollars.
London, May 7 : Aussie media mogul Rupert Murdoch has revealed that he will soon start charging people for obtaining access to News Corporation's newspaper websites.
The change is expected to take place within a year, as he strives to fix a "malfunctioning" business model.
Encouraged by booming online subscription revenues at the Wall Street Journal, the billionaire said on May 6 that papers were going through an "epochal" debate over whether to charge.