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Murdoch: Split Benefits Company and Shareholders

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  • Description

    News Corp. CEO Rupert Murdoch on the company’s plan to split.

  • Duration 3:38
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This transcript is automatically generated

Let's talk a little bit about what.

You're doing today because in the middle of these big national.

Court headlines and congress may be holding the attorney general United States and contempt.

Here you -- announce that you're going to be splitting your company and to.

One focusing on the broadcast part of the business the other -- large to print publishing side of the business.

-- I'm always wondering -- about the timing.

Obviously you knew this -- was -- Did you wanna get this under the radar.

Or.

But none I don't know had -- -- that good planning.

We.

Having come did this to the decision.

That we would have a -- a meeting and see if they agreed to pay into.

Pursue this option.

We wanted to do it this week we thought on a Friday as bad -- it would -- opponent any bad news gets reported on Saturday.

And next week is -- -- on week with.

July the fourth and then below.

Orleans at this point because you have resisted these overtures in the past and I know are beginning advice from both sides.

I know -- -- that's really -- he's been put he's been mentioning this.

-- you know this has been going on David -- chief financial officer.

What was the reason.

Ahead of that markets and identifying.

But wanted to this now sent.

But I do believe that I -- -- will benefit from it absolutely well broadly -- was.

-- Now resisting that I've been 58 is brilliant company.

Graduating.

Their logic.

I realize the logic common and how all the companies would be -- managed to Bennett in Libya.

A lot better in every way.

Now obviously the more attractive were profitable side and his business is the broadcasts has decided that includes.

Carolina is where we're recent right now.

And and the publishing side a little -- -- money on new buildings like this yes that's.

We're -- -- to keep calm but let me ask you about who runs that business.

On the on the publishing and you -- run both companies.

But on the publishing side different side who's gonna run that.

-- -- -- -- -- We have it's.

Great division heads -- in Britain or Australia Roy here.

Some of them very new -- -- -- -- and about six months in that in those positions.

And PM was equipped with a live -- really great management run across.

The whole company.

Do you -- you -- -- amount from folks sue someone from post is out on a big.

Sounds a bit similar to -- you know cynically one -- look at this Reuben say well.

He wouldn't be doing this -- if not for the hacking scandal and that that prompted this maybe it's a way to keep any litigation.

Any of that on on the publishing side since that's where it originated in Britain.

And you can divorce -- more lucrative profitable parts of the businesses off from from that and that had it not been an acting scandal.

You wouldn't be.

Here now regret not -- -- adult.

Apple but this is not in reaction to and it does -- looking forward.

To what's best for our companies know what's best for our shareholders are you over the worst of that I don't know we'll have -- -- We'll she's probably everyone thinks that the I don't know this is gonna take at least a year to do.

When used to companies have duties and and we with.

-- -- be -- Abbas talked that by the.

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