'Landmark' News Corp split plan to 'wow the world as two', says Murdoch

Sydney, June 30 (ANI): Media tycoon Rupert Murdoch has said that News Corp oration will 'wow the world as two' with its landmark decision to split its entertainment and publishing businesses.

Murdoch told staff that both businesses would become 'global leaders in their own right'.

"The publishing business, to cover the group's exhaustive stable of newspapers and a string of other assets, had been greatly undervalued by the skeptics and its genuine potential would be unleashed," News.com.au quoted Murdoch, as saying.

"And the entertainment businesses would be able to innovate and grow even faster as a stand-alone company," he added.

According to the report, Murdoch, chairman and chief executive of NewsCorp, would continue with his current positions at both companies following the separation.

He will also serve chief executive of the entertainment business, with the full management teams to be assembled for both companies 'over the next several months'. (ANI)