As you’ve by now likely read, News Corp. executives are considering splitting the company into two entities, one containing publishing brands such as The Wall Street Journal, The New York Post and HarperCollins, the other housing News Corp.’s movie and television businesses.
It’s not a new idea, but News Corp. Chairman and CEO Rupert Murdoch was said to have been opposed to the split. Now Mr. Murdoch’s opposition may have softened, according to The New York Times, and investors were happy to hear it, with shares rising 8.3 percent.
Meanwhile, Bloomberg reported that News Corp. had hired an investment bank to advise on the deal. Which one? Well, we imagine that a news organization that hacks a murder victim’s voicemail messages is unlikely to quibble about its investment bankers reputation for ethical behavior:
News Corp. (NWSA) hired Goldman Sachs Group Inc. (GS) for financial advice on its plans to break up the company, according to two people with knowledge of the situation.
(Of course, we merely kid. We have no reason to believe there’s anything sinister about the restructuring.)