Friday was a big day in New York with confirmation from News Corporation that it had completed the separation of its businesses, with 21st Century Fox and New News Corp each emerging at 4:30PM local time.
Here are some excerpts from 21st Century Fox’s and New News Corp’s press releases confirming the split (to read the full press releases click on the links below):
21st Century Fox, formerly known as News Corporation, announced today that it has completed the previously announced separation of its business into two independent publicly-traded companies…21st Century Fox’s world renowned media and entertainment assets span a global portfolio of cable and broadcasting properties, including FOX, FX, Fox News Channel, Fox Sports Network, National Geographic Channels, STAR, Fox Pan American Sports, as well as film studio Twentieth Century Fox Film and television production studios Twentieth Century Fox Television and Shine Group. The Company’s assets also include leading 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 Rupert Murdoch, Chairman and CEO of 21st Century Fox.
“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.”
News Corp announced that it has completed the separation of its businesses from 21st Century Fox (formerly called News Corporation)…The new News Corp is a leading global network of powerful, valuable and complementary brands in news and information services, sports programming in Australia, digital real estate services, book publishing, digital education, and pay-TV distribution in Australia. News Corp’s global portfolio includes Amplify, The Australian, The Courier Mail, Dow Jones, Fox Sports Australia, Foxtel, HarperCollins, Herald Sun, The New York Post, News America Marketing, REA, The Sun, The Sunday Telegraph, The Sunday Times of London, The Times of London and The Wall Street Journal.
Robert Thomson, Chief Executive of News Corp, said, “We are continuing a proud tradition and fashioning a prosperous future in the new News Corp. We have a valuable collection of complementary companies and our task is to make the new News more than the sum of these distinguished parts. We have a robust balance sheet and a team of creative, energetic and passionate employees who are determined to make the company a resounding success and to make a positive difference in their communities.”