MUMBAI: Decks have been cleared for Rupert Murdoch?s global media empire to be split into two companies with the high growth media & entertainment business being separated from the sluggish publishing business.

News Corporation?s Board authorised management to explore this separation after a Board meeting yesterday.

The move, aimed at increasing operational flexibility, will see creation of two distinctly public trading companies which would allow News Corp shareholders to hold interests in a publishing company, consisting of publishing assets and a new digital education group, and a global media and entertainment company.

Upon closing of the proposed transaction, Rupert Murdoch would serve as chairman of both companies and CEO of the media and entertainment company. Chase Carey would serve as President and COO of the media and entertainment company.

Over the next several months, the company will assemble management teams and Boards of Directors for both businesses, News Corp said in a statement.

Murdoch?s decision not to head the new publishing business has sparked speculation that he was setting the stage for the return of his eldest son Lachlan Murdoch to the company.

The separation is expected to be completed in approximately 12 months. Management is developing detailed plans for the Board?s further consideration and final approval. To execute the transaction requires further work on structure, management, governance, and other significant matters.

After receiving final approval of the Board of Directors, News Corporation will convene a special shareholder meeting to consider the transaction. This meeting is not expected to take place until the first half of calendar 2013.

"There is much work to be done, but our Board and I believe that this new corporate structure we are pursuing would accelerate News Corporation?s businesses to grow to new heights, and enable each company and its divisions to recognize their full potential - and unlock even greater long-term shareholder value," said News Corporation Chairman and CEO Rupert Murdoch.

"News Corporation?s 60-year heritage of developing world-class media brands has resulted in a large and unparalleled portfolio of diversified assets. We recognize that over the years, News Corporation?s broad collection of assets have become increasingly complex. We determined that creating this new structure would simplify operations and greater align strategic priorities, enabling each company to better deliver on our commitments to consumers across the globe.

I am 100 percent committed to the future of both the publishing and media and entertainment businesses and, if the Board ultimately approves a separation, I would serve as Chairman of both companies."

The proposed transaction would create global category leaders in both publishing and entertainment: a publishing company, which would consist of News Corporation?s newspapers and information businesses in the U.S., U.K., and Australia, the company?s leading book publishing brands, its integrated marketing services company, its digital education group, as well as its other assets in Australia; and a global media and entertainment company, which would encompass News Corporation?s broadcast and worldwide cable networks, leading film and television production studios, television stations and highly successful pay-TV businesses in Europe and India.

The new global media and entertainment company would consist of News Corporation?s highly-profitable cable and television assets, filmed entertainment, and direct satellite broadcasting businesses, including Fox Broadcasting, Twentieth Century Fox Film, Twentieth Century Fox Television, Fox Sports, Fox International Channels, Fox News Channel, Fox Business Network, FX, Star, the National Geographic Channels, Shine Group, Fox Television Stations, BSkyB, Sky Italia and Sky Deutschland.

The publishing company includes brands like Dow Jones, The Wall Street Journal, Dow Jones Newswires, HarperCollins, The New York Post, and The Daily, as well as offer the rich diversity of assets in Australia, including leading brands such as The Australian, The Herald Sun, The Daily Telegraph and The Courier Mail. In addition, the Company would include The Times, The Sun, The Sunday Times, as well as News Corporation?s integrated marketing services group and its ground-breaking digital education group, including Wireless Generation.

Upon closing of the proposed transaction, News Corporation?s shareholders would receive one share of common stock in the new company for each same class News Corporation share currently held. Following the separation, each company would maintain two classes of common stock: Class A Common and Class B Common Voting Shares.

In addition to shareholder approval, the completion of the separation will also be subject to receipt of regulatory approvals, opinions from tax counsel and favorable rulings from certain tax jurisdictions regarding the tax-free nature of the transaction to the Company and to its shareholders, further due diligence as appropriate, and the filing and effectiveness of appropriate filings with the U.S. Securities and Exchange Commission.

MUMBAI: Rupert Murdoch-controlled News Corporation has decided to split its business into two entities separating its film & television business from the publishing business.

While most shareholders see the UK newspaper assets as a liability, Murdoch wants them.

Investors had every reason to cheer as the film and television vertical contributes about 75 per cent of the company?s revenue overall while the publishing business was a drag on the conglomerates bottom line. News Corp?s film and television business includes Fox News Channel and Fox Business Network, Star Television, Fox Broadcasting Company, BSkyB and 20th Century Fox.

Publishing, including The Wall Street Journal, the Times of London, New York Post and Australian newspaper, accounts for about 18 per cent of News Corp?s operating income.

?News Corporation confirmed today that it is considering a restructuring to separate its business into two distinct publicly traded companies,? the company said in a brief statement without specifying any details.

The announcement was hailed by investors with the company?s stock rising up 8.3 percent, to close at $21.76 Tuesday. During the day, the stock reached $21.89, its best performance in more than four and a half years.

Business fundamentals apart, the Rupert Murdoch owned media and entertainment conglomerate was also concerned about the wider implications of the phone hacking scandal at the UK publishing subsidiary.

The scandal had already led to the closure of News of the World besides, forcing News Corp to abort its takeover of profitable pay TV business BSkyB, where it holds 39 per cent ownership.

British communications regulator Ofcom is in final stages of its review of whether News Corp deputy COO is "fit and proper" to hold a broadcast license.

MUMBAI: The Management and Standards Committee (MSC) of the News Corporation has changed its reporting structure consequent to which it will report directly to Gerson Zweifach, the company?s senior EVP and Group General Counsel.

The MSC was set up as an independent internal body in the wake of the phone hacking scandal and has been co-operating with the British police in the investigation.

Joel Klein, who was earlier overseeing the MSC, will transition back to a full-time role as EVP and CEO of News Corporation?s Education division.

In his MSC role, Zweifach will report to News Corporation?s independent directors through Viet Dinh, an independent director and chairman of News Corporation?s Nominating and Corporate Governance Committee.

Zweifach, News Corp?s top lawyer, has served as a member of the MSC since February.

"This shift will enable the company to consolidate its efforts with respect to ongoing UK and related investigations within its legal group, which Zweifach has led since joining News Corporation in February," News Corp said in a statement.

MUMBAI: Discovery Networks International (DNI) has announced that Betty, the UK production house that it acquired last year, will produce new lifestyle series ?Taste Off? and ?Ultimate Shopper?.

These series, commissioned by DNI head of production & development Julian Bellamy, will air on TLC internationally and available in over 150 markets across Europe, Middle East, Africa, Asia-Pacific and Latin America.

DNI chief content officer, executive VP Luis Silberwasser said, ?Fashion and food are two of TLC?s most popular genres, and the commissioning of ?Taste Off? and ?Ultimate Shopper? ? inspired by Real Time Italy?s hit series ?Shopping Night??taps into the essence of what our female flagship channels are all about. We are excited for these series to be infused with betty?s creativity and unique perspective, and feel fortunate to have a solid built-in production partner for our world-class programming.?

Betty CEO Liz Warner said, "We are thrilled to have won these series so early on in our relationship with Discovery?our development slate is very much in tune with TLC and Julian?s commissioning compass. These series are totally in our blood?being a sassy and competitive take on fashion, and a food show with a great twist taking on the local experts. Both will feature great presenting talent we have found, which is one of our known strengths.?

Part-travelogue, part competitive culinary show, ?Taste Off? follows self-taught British chef, restaurateur and author Aaron Craze, as he takes on homegrown food heroes around the world to prove he can cook up beloved national dishes as tasty and authentic as the locals.

In each episode, Craze?known to international audiences for his popular show Rude Boy Food and for winning Jamie?s Chef?learns the local culinary dish before competing against the locally crowned master, from head chefs at a 5-star restaurant, to family foodies to roadside cooks.

Each episode culminates with a blind taste test where the discerning local audience will make the final call?can an outside chef outdo the experts on their own soil? In the series? final episode, Craze will visit Australia where all dishes will be cooked and judged against each other to become king.

Confirmed locales for ?Taste Off? include Brazil, Mexico, Malaysia and Australia, with other locations to be announced at a later date.

?Ultimate Shopper? is being positioned as being every girl?s fantasy ? unleashing slaves-to-fashion in their ultimate dream store. With DNI and Magnolia Productions? ?Shopping Night? as a muse, ?Ultimate Shopper? aims to give new meaning to the phrase ?dressed to kill.?

Each episode pits four fashionist as head-to-head in a series of three style-based challenges to be judged by our fabulous panel of experts: singer and modern pop culture icon Holly Valance, fashion expert Brix Smith Start and photographer Paul Hartnett, along with a special guest judge.

From crafting the perfect look for a first date to donning just the right duds for a second job interview, contestants?and their style?will be judged on their chic creativity and quick-thinking fashion sense. At the end of each episode, the final two contestants will face off ?and the last shopper standing will be rewarded with a dream wardrobe of all their chosen pieces.

MUMBAI: ?Appropriate Adult?, an ITV miniseries about a serial killer Fred West, won three acting awards at the Bafta TV awards in the UK.

Dominic West, Emily Watson and Monica Dolan won for their roles in the show. West beat out stiff competition that included the star of ?Sherlock? Benedict Cumberbatch.

Andrew Scott won the award for supporting actor in ?Sherlock? as the Elad character?s nemesis Moriarty. ITV2?s show ?Celebrity Juice? won the YouTube audience award.

The award for best drama show went to BBC?s ?The Fades?. The award for comedy programme went to BBC?s ?Stewart Lee?s Comedy Vehicle? while its sitcom ?Mrs Brown?s Boys? won in that category. Its factual series ?Our War ? also triumphed.

Danish thriller ?Borgen? won for best international TV show. Rolf Harris got the Fellowship Award.

MUMBAI: The BBC has retained free-to-air highlights of the Premier League in the United Kingdom until the end of the 2015/16 season.

With a bid of ?179.7m the BBC has retained their highlights package, including the traditional Saturday evening Match of the Day programme, the Sunday morning repeat, MotD2 on Sunday evenings and other evenings when Premier League fixtures justify a show.

Match of the Day and MotD2 will also be available on the BBC?s iPlayer from midnight on Mondays.

Premier League CEO Richard Scudamore said: "The free-to-air highlights are extremely important to the broadcast reach of the Premier League; allowing the competition and our clubs to be seen by the maximum possible number of fans across the country.The BBC has done a fantastic job for fans of Premier League clubs by providing quality coverage and analysis across their programmes. We are very pleased to be continuing our partnership with them."

Match of the Day presenter Gary Lineker added: "It is wonderful news that we have MotD for another three years. It is a flagship programme and it shows how much the BBC values sport and the importance of football."

The new contract will see MOTD celebrate its 50th birthday.

BBC Director of Sport Barbara Slater said: "With such an amazing season and thrilling finale, Premier League football has never been more exciting and dramatic. We?re absolutely delighted that the TV highlights will continue to be available to licence fee payers. We?ve seen audiences for MOTD grow in recent years and the programme remains one of the BBC?s best loved and most iconic brands."