In 2012, Australian-born media mogul Rupert Murdoch made an announcement that set of major changes for his news conglomerate, News Corporation: the company would be splitting into two separate companies. One company would focus on media and entertainment, while the other would focus on publishing.
This summer, shareholders of News Corporation approved the proposed split, and on June 28th, it took effect. Robert James Thomson, who is the editor for The Wall Street Journal, was announced as the new head of the new News Corp, while Murdoch himself stayed with the old News Corp, renamed 21st Century Fox. The split, according to Murdoch, will allow each company to better focus its assets and management.
To learn more about Rupert Murdoch and how he built his media empire, check out his complete profile.