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News Corp (ASX:NWS) has unveiled a new logo for its publishing arm as it prepares to split the newspaper and book unit from its TV and movie business by the end of June.
The unveiling, at a one-day meeting with investors in New York, follows the company's recent announcement that the publishing unit will book an impairment charge of up to $US1.4 billion this quarter.
The logo, in cursive lettering, is based on the handwriting of founder Rupert Murdoch and his father. It replaces the striped globe of the current News Corp brand.
Since the split was announced last June, News Corp's stock has climbed 65 per cent, with investors convinced the newspaper division will no longer drag on the growth of the entertainment businesses.
Mr Murdoch told investors about the split, acknowledging the publishing arm’s difficulties as print advertising continues to decline across the industry.
News Corp generated a net profit of $4.6 billion in the first half of the current financial year.
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