News Corp's new publishing division will get a healthy cash injection when it goes it alone in June, reports the Financial Times and Bloomberg. It will enjoy a $1.8bn (£1.2bn) contribution from Rupert Murdoch's media company, giving it $2.6bn (£1.7bn) in net cash and no debt.
Citing documents filed today with the Us Securities and Exchange Commission, the Ft says the assets for the "New News Corp" will total $18.6bn (£12.5bn).
The new company will have five divisions: news and information services; digital real estate services; HarperCollins book publishing; Fox Sports Australia's cable programming; and a miscellaneous group.
The news and information division will include the British newspaper outfit, News International, plus the Us papers - such as the Wall Street Journal - and the Australian press publisher, News Ltd.
In future, the publishing spin-off will be entirely separate from the current News Corp's movie and TV outlets, which »
- Roy Greenslade
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