News Corp shareholders approve split

News Corp’s shareholders have approved the division of the company into separate media and publishing businesses.

Rupert Murdoch will continue as chairman of both the new News Corp, which will focus on publishing, and media business 21st Century Fox, as well as serving as CEO of 21st Century Fox. Shares in the two new companies will begin trading separately on July 1.

The shareholder approval by a majority vote follows the approval of the split by the News Corp board in May.