21st Century Fox

21st Century Fox was hived off from News Corp in 2013, allowing investors to value the cable, movie and pay TV investments more highly than the traditional news media assets.

News Corp gets tepid response from investors after split

News Crop assets include the Wall Street Journal and its sister companies, as well as The Times, The Sun and newspapers in Australia and the US. Photo: AP

News Corp shares slipped when the company began trading separately from the 21st Century Fox entertainment operation, as investors gave a tepid reception to the slower-growing publishing business.

Tuesday, 2 July, 2013, 11:44am

Free of newspapers, 21st Century Fox shines

Investors have welcomed Rupert Murdoch’s move to create a separate entertainment company. Photo: Reuters

Wall Street rewarded Rupert Murdoch’s move to create a separate entertainment company, giving 21st Century Fox one of the richest valuations in the media sector on its first day of trading.

Investors had waited for Murdoch to split News Corp, giving its cable, movie and equity stakes in pay-TV assets their own spotlight away from the publishing division.

2 Jul 2013 - 11:37am