foundation of his media empire and riches for many decades turned out in recent years to be a heavy weight around his neck by splitting the company in two he both insulated the more profitable television and entertainment properties from the fallout from the enormous hacking and corruption scandal in the u.k. and he liberated the share price, the stock value of those entertainment properties. you have seen him be rewarded on the market for doing something he resisted doing for many years. the fallout from that is that the newspapers, which once had been profitable and now struggling like so many of their competitors, are now no longer insulated by the great profits of fox news or movies like avatar that fox studios puts out. they are really vulnerable. he s the chairman. he has ceo who used to lead the wall street journal forum trying to figure out what they re going to do to solve this riddle that has so far stymied so many of their peers. news corporation isn t the only company t
struggling economy of both spain and italy. this comes after fireworks after the start of a crucial economic summit today. the german chancellor angela merkel flat out rejected the idea of taking on other nation s debts through euro bonds. she reportedly said that it will never happen in her lifetime. in response the italians and the spanish blocked a final stimulus deal worth about $150 billion. both nations demanded immediate help in lowering their borrowing costs. and it appears that s what leaders are discussing right now in that unplanned meeting. updates as we get them. the board of news corporation confirms that company plans to split into two separate pars within the next year. news corps owns this network as well as other cable and broadcast networks, film studios, newspapers and publishes really all over the world. the plan now is for one company to contain media and entertainment properties including cable, tv satellite broadcasters. the other will be largely comprised of ne