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News Corp could split assets

Shares rise following asset split reports

The News Corporation owned Wall Street Journal has announced the possibility of the company splitting its publishing assets from its entertainment businesses.

The split would seperate the Murdoch family's 39% stake in BSkyB and group their film and television companies together. The publishing company, which would be the smaller of the two, would include assets such as the Wall Street Journal and the Times. According to BBC business editor Robert Peston, the publishing business would only provide 25% of total revenues.

News Corp's chief operating officer Chase Carey has warned that some shareholders favoured a move away from newspaper assets.

The Murdoch family would retain control of both companies due to their 40% of voting shares.