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Rupert Murdoch's News Corp says its board has approved a plan to split into two companies, one containing struggling newspaper and book publishing businesses and the other comprising faster-growing entertainment operations. Murdoch will serve as chairman of both new companies and CEO of the entertainment company. The Murdoch family, which controls nearly 40 per cent of the voting shares in News Corp, is expected to maintain control of both companies.

Photo by Getty Images Jun 29, 2012