News Summary: Report of News Corp. plans to split

The Associated Press

DIVISION: The Wall Street Journal says News Corp.'s board has approved a plan to split the media conglomerate into two separate companies.

WHAT GOES WHERE: Under the proposal, News Corp. will be divided into two publicly traded companies. One will operate as a newspaper and book publishing firm. The other will be an entertainment company that includes Fox News channel, the Fox broadcast TV network and the 20th Century Fox movie studio.

TIMING: The Journal says the move is expected to be announced early Thursday. News Corp. had no comment on the report, but has said it's considering a split.