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News Corp (ASX:NWS) shareholders have given the green light to a plan to split the media empire into two independent companies.
The vote is no surprise, given the Murdoch family hold the majority of voting shares in the media-entertainment powerhouse.
As a result of the split, which is planned to take place on June 28, one company will focus on news and publishing retaining the News Corp name, and the other - 21st Century Fox - will be centred on television and film.
The separation spins off troubled publishing operations from the more profitable entertainment assets.
The new, News Corporation will include newspapers in Britain, Australia and the United States, including The Wall Street Journal and The Times of London.
News Corp generated a net profit of $4.6 billion in the first half of the current financial year.
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