News Corp. chairman Rupert Murdoch confirmed reports that he will divide the corporation into two companies—one for television and entertainment, one for newspapers and publishing—in a message to employees today.

The lengthy memo, obtained by the The New York Times, touches on everything from the First Amendment to the iPad but does not mention the ongoing phone-hacking and bribery scandal in the UK. Some think the restructuring, on which they’ll reportedly be advised by Goldman Sachs, is an attempt to protect top management from this or future messes. Read More