News Corp. Spinoff Forces Publishing Arm to Prove Growth
Posted: 6/28/2013 | By: Edmund Lee | Bloomberg
Rupert Murdoch bowed to investor pressure to split his six-decade-old publishing business from the rest of News Corp. (NWSA)’s media empire. Now it’s time for the newspaper unit to prove it can make it on its own.
The publishing unit, owner of the Wall Street Journal, New York Post and London’s Sunday Times, officially becomes independent today, losing the backing of News Corp.