News Corp to separate film and television businesses

A passer-by stands in front of the News Corporation building in New York June 28, 2012. News Corp said on Thursday its board had approved a plan to split the company into two entities, and that Rupert Murdoch will remain as chief executive of its new, separate entertainment company.

(Reuters) - Rupert Murdoch's News Corp (NWSA.O) will reorganize its studio operations to separate its film and television production units, the company said on Friday.

Tom Rothman, one of two chairmen and chief executives of the studio business, will step down ahead of the split, the media conglomerate said. Jim Gianopulos, who was co-chairman and chief executive of the combined studio business, will lead the film business, now named Twentieth Century Fox Film.

The television business, Twentieth Century Fox Television, will now be an autonomous business unit of the company, News Corp said.

The film business comprises Fox Searchlight Pictures, Fox 2000, Fox Animation/Blue Sky Studios, Fox International Productions, and Fox Home Entertainment.

The New York-based company's shares rose marginally in extended trade on Friday. They closed at $24.67, up 1.3 percent in regular trade on the Nasdaq.

(Reporting by Siddharth Cavale in Bangalore; Editing by Gary Hill)