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Thank you News Corp.
the parent company of this network announced today officially although the markets have heard this rumor going on and on for the past 48 hours that it is indeed splitting.
Into two separate publicly traded companies Dennis Muller is here to tell us exactly what that will need to be asking what does this mean if you -- -- share of News Corp.
Well I think that you know that the stopped -- today is a high since October 2007.
-- off today the entire markets down.
But overall Wall Street thinks that this company can actually trade higher.
With the Wall Street Journal one most prized print properties in the world and it's so siblings just you shut off and put -- this.
Separate separate company that's gonna take a year for News Corp.
to break itself up we did have Neil Cavuto bringing on Rupert Murdoch on Fox Business that we're Brothers morning.
And yes among other things he said you know you own 39% of B sky B.
The regulators over in Europe -- said you can't -- the rest because you're in trouble on this hacking scandal might he revived the attempt to buy the 61%.
That his company doesn't already own.
And here's what what fault.
So you're not you're you're you do you still want a bit.
For these ID to buy it outright and you had poodles oh -- -- and has lived on and Aaron thinking and now from that.
So loved Rupert Murdoch there you see.
-- look a day over seventy but he's actually 81 years old and I think one thing motivating this is my can decide there is no one man or woman who could run this entire empire that I spend 58 years building.
I need to chop this -- -- -- -- god did that years ago with ITT.
So he sets up these two separate companies have -- editors -- a lot.
And now -- got to decide how they -- via the attitude of Europa News Corp.
shareholder I think you're just gonna get a spun off after -- share of a new company that's what I was asking righteous you don't give a single share you'll get -- you just you sit there and you're gonna receive it but the company has fifteen billion dollars in combined debt it has ten billion dollars in cash.
How do you side how much -- guys get -- -- put a wanna ice flow and you push them out to see.
That's the question well Rupert Murdoch is going to -- the chairman he's also gonna run the media part of but the big question is who runs the publishing partners content that in the next hour.
Watch for Robert Thompson headed into the journal and the CEO currently of Dow Jones the other guy whose name -- right now I think that will stick with you what has little change is possible even when you're in the.
Biddle of the biggest change in your company's history Robert -- had some success -- the journal definitely thank you very much and Dennis -- closing bell ringing of the.
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