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FBN’s Diane Macedo with reports that News Corp. unanimously agreed to split the company into two, and will announce the decision today.
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This is the Imus have a morning program on the Fox Business Network.
-- -- -- Good morning everyone news -- expected to announce today that it's splitting into two companies Fox Business is Robert grades in our newsroom with more on that good morning Robert.
Hey Diane good morning that's right our colleagues -- the Wall Street Journal reporting that the aboard of these court unanimously voted to split the company.
Into two separate companies it there.
In not meeting last night now the entertainment offered options are opera operations rather would be in one of those ways -- fox film business.
Our Fox Business Network Fox Business Fox News the Fox Broadcast network and wind in the publishing arm in the other from -- the Wall Street Journal at times of London.
Harpercollins education business amongst others.
No word yet on who would run the publishing business another -- still on resolved out there.
The entertainment business of course -- faster growing contributes more to both sales and the to the bottom line of the company higher profit margin.
Expected to be even higher without publishing some -- that the company.
Is a vastly undervalued in if you took out those slower growing.
Parts such as the publishing that the valuation -- News Corp.
the entertainment -- our operations would be higher than it is.
Aside your questions now of course how to divvy up the cash on hand and almost eleven billion dollars and of course the debt as well about fifteen billion dollars in long term debt.
And also the ongoing ten billion dollar stock buyback program these are questions that may be answered as soon as this morning -- of course -- -- is the parent company.
Of the Fox Business Network.
-- -- Thanks so much -- you checking in with you.
On this and all of those questions to see if they have been answered thanks for months.
Let's take a look at future is now they've been in the red for most of the morning we're still seeing red arrows across the board Dow futures are down by seventy points.
Imus in the morning continues right now on Fox Business.
