News Corp. chief executive Robert Thomson said cost cuts will be "relentless" as the company's newspaper arm divests from Rupert Murdoch's entertainment assets, Reuters reported.
The new News Corp. will debut on June 28, retaining such properties as The Wall Street Journal, Dow Jones Newswires, The Times of London, HarperCollins, education unit Amplify and Australian pay-TV services.
The Fox Network, including Murdoch's movie studio and cable channels, will spin off as 21st Century Fox.
Thomson told Wall Street investors on Tuesday that News Corp.
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