News Corp could split by end of year: report

Rupert Murdoch's plans to split his media conglomerate News Corp into two separate firms could be realized before the end of the year, Britain's Daily Telegraph reported today.

The tycoon's proposal to spin off the company's troubled publishing arm was due to be completed by June, but could now take place on December 31, according to the Telegraph.

News Corp said in June that it would split its ailing newspaper and book publishing operations from its faster-growing movie and television arm as it seeks to limit the damage of the News of the World phone hacking scandal.

The company plans to name Wall Street Journal managing editor Robert Thomson as chief executive of its publishing spinoff, the newspaper said Saturday.

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