News Corp. Chairman Rupert Murdoch details plans to split company

News Corp. Chairman Rupert Murdoch outlined plans to split the media conglomerate's publishing and entertainment operations into two publicly traded companies.

Under the plan, the media and entertainment company would comprise 20th Century Fox film studio, the Fox broadcast network, and the company's cable TV group, which includes Fox News and FX. The online television service Hulu -- partly owned by News Corp. -- would also be included, as would the company's home satellite operations. The global publishing company would consist of News Corp.'s newspaper holdings, among them the Wall Street Journal, New York Post, the Sun in Britain, as well as its HarperCollins book publishing group. Murdoch would serve as chairman and chief executive of the media and entertainment company, and as chairman of the new publishing entity. News Corp. chief operating officer Chase Carey would continue in that capacity for the entertainment business.