Rupert Murdoch has resigned from several subsidiary boards ahead of a News Corp. split of entertainment and news properties
News Corp. Chairman Rupert Murdoch has resigned from a number of subsidiary boards in his company, the company announced on Saturday.
"Last week, Mr. Murdoch stepped down from a number of boards, many of them small subsidiary boards, both in the U.K. and U.S.," said a company spokesman.
"This is nothing more than a corporate housecleaning exercise prior to the Company split."
Also read: News Corp. Officially Announces Split Plans
According to British legal filings, he resigned as a director of the NI Group, Times Newspaper Holdings and News Corp Investments in the U.K. last week. He also quit a number of News Corp.’s U.S. boards, the details of which have yet to be disclosed by the Securities and Exchange Commission.
The company announced last month that it would be splitting its publishing entities off from its more lucrative film and television businesses. Both would be publicly traded.