The other will be an entertainment company that includes Fox News channel, the Fox broadcast TV network and the 20th Century Fox movie studio.
Wednesdays board meeting lasted about an hour and a half and many details, such as who will run the publishing business, have yet to be resolved, the Wall Street Journal said.
Murdoch will also serve as Chief Executive Officer of the media and entertainment company and Chase Carey will serve as its president and chief operating officer.
News Corps board, overseen by 81 year old chairman Rupert Murdoch, met on Wednesday and an announcement was expected later on Thursday on the decision to create two publicly traded companies, the source said, confirming a report in the Wall Street Journal.
Media magnate Murdoch has been hounded in recent months by criminal investigations into his company over hacking into people’s phones and improper collusion with British police.
A report last month from a British Parliament committee said that Murdoch was not a “fit person to exercise the stewardship of a major international company.
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