Murdoch drama ignites fresh talk of papers sale
The Evening Standard is reporting that with the news that James Murdoch is stepping down from News International, which broke yesterday afternoon, has sparked fresh speculation that News Corporation could sell its newspaper business, which includes The Sun and The Times.
Offloading the newspaper business is even something that News Corp admits it has considered — at least at some point. Although some might think it less likely with Rupert Murdoch personally overseeing the launch of the Sunday edition of The Sun.
News Corp chief operating officer Chase Carey poured oil on the fire by publicly admitting the company had considered a sale or spin-off of the titles including the Sun and The Times. He told US investors “there certainly is an awareness” that the company would be worth more if it did not own the papers.
Carey admitted he had held talks with News Corp executives about a sale or spin-off following the News of the World phone hacking scandal.
However, analysts poured cold water on the idea that the company was poised to jettison the operation, the Evening Standard reports.