Twilight of the Great Media Mogul?

1 | U.S.

The board of Rupert Murdoch's News Corp. approved a plan on June 27 that would split the conglomerate's publishing and entertainment divisions into two separate companies. Book publisher HarperCollins and Murdoch's roughly 175 newspapers (including the Wall Street Journal, the Times of London and the New York Post) will form one of the new companies, while the other will boast 20th Century Fox and hugely lucrative cable channels such as Fox News, FX and National Geographic. Although Murdoch--who says he intends to maintain control over both companies--has compared the move to the...

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