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21st Century Fox demerges, stocks on a high
Indiantelevision.com Team
(2 July 2013 4:45 pm)

MUMBAI: Last December, the 21st Century Fox had announced the separation of its business into two independent publicly-traded companies. And starting 1 July, the Rupert Murdoch owned News Corporation completed its separation process.

The news of the split affected the trading as the News Corp shares saw a downward slide while the stocks of 21st Century Fox closed with a little high on NASDAQ. The first day saw a two per cent increase in the 21st Century Fox shares. On the other day News Corp plunged five per cent.

The publishing firms like The Wall Street Journal and Harper Collins as well as the other news and information services will be under News Corp's banner, while 21st Century Fox will have Star, Twentieth Century Fox, Fox, Sky, National Geographic, Fox News, Fox Sports and FX.

The Company's assets will also include pay-tv businesses Sky Deutschland, Sky Italia and its equity interests in BSkyB and Tata Sky.

"21st Century Fox launches as a unique force bringing news and entertainment to more than a billion customers every day in over 100 languages," said 21st Century Fox chairman and CEO Rupert Murdoch. "Our success will continue to be rooted in a deep belief in originality and a commitment to empowering creative minds and entrepreneurs around the world. Our management teams are the best in the business and we will drive growth and shareholder value by expanding our existing assets and brands, while embracing new opportunities and technology."

As previously announced, Rupert Murdoch will serve as chairman of the new News Corporation and chairman and CEO of Fox Group. Chase Carey will serve as president and COO of Fox Group, with James Murdoch continuing in his capacity as Deputy Chief Operating Officer.

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