Murdoch's TV Spinoff to Be Called 21st Century FoxCompany Will Own Broadcast, Cable Networks, Studios 4/16/2013 1:40 PM Eastern
"21st Century Fox is a name that draws upon the rich creative heritage of our film studio, while also speaking to the innovation and dynamism that define all of our global media and entertainment businesses and will guide us into the future," Murdoch said in a statement.
Last year, News Corp. announced it would be dividing into two independent companies. One, called News Corp., will own the publishing assets and businesses in Australia. The other will own TV and movie studio businesses. Until now, it had been referred to as Fox Group.
Murdoch, who acquired the 20th Century Fox movie studio and built the Fox network, will serve as chairman and CEO of 21st Century Fox.
Chase Carey, who will be president and chief operating officer of 21st Century Fox, said: "Together, as 21st Century Fox, we will have the global footprint and creative bench that give us a competitive edge across more than 50 countries. We believe that the 21st Century Fox name captures the power of our legacy as well as the vast opportunities for our consumers, businesses and investors as we look forward."
21st Century Fox will own cable and broadcasting networks and properties, including Fox, FX, FXX, FS1, Fox News Channel, Fox Business Network, Fox Sports, Fox Sports Networks, National Geographic Channels, Fox Pan American Sports, MundoFox and STAR. It will also own the Twentieth Century Fox Film studio, television production studios Twentieth Century Fox Television and Shine Group. In addition, it will have pay-TV services in Europe and Asia.
The separation of the two companies awaits approval from News Corp.'s board and shareholders, as well as rulings from regulatory and tax officials.