News Corp to take charge of up to $1.4 billion this quarter

News Corp said on Friday it will write down the value of its Australian and US publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations.

News Corp will start its new life with $2.6bn after split

Rupert Murdoch's News Corp will start its new life primarily as a publishing company with no debt and $2.6bn (£1.7bn) in cash when it is spun off.