News Corp. announced that in connection with the company’s separation of its publishing and media and entertainment businesses into two distinct publicly traded businesses, on May 24, 2013. As of the date of the separation, which is expected to be June 28, 2013, Delphine Arnault, Jacques Nasser and Robert Silberman will join the board of directors of the company, which will retain the global media and entertainment businesses and is expected to be renamed 21st Century Fox. Also in connection with the separation, the company’s directors José María Aznar, Natalie Bancroft, Peter L. Barnes, Elaine Chao and Joel I. Klein informed the company’s board of directors on May 22, 2013 that they will be resigning as of the date of the separation as directors of the company to join the board of directors of New News Corporation. Ms. Bancroft had been appointed to the company's Board of Directors in connection with the company's acquisition of Dow Jones & Company Inc. in 2007, pursuant to the terms of an agreement whereby the company agreed to elect a member of the Bancroft family or another mutually agreed upon individual to the board of directors. Following the separation, Dow Jones will be part of New News Corporation, and accordingly, Ms. Bancroft will serve as a director of that company. Ms. Arnault has served as Deputy General Manager at Christian Dior Couture since 2008 and as a Director of Christian Dior SA since 2012. Mr. Nasser has been a Non-Executive Advisory Partner of One Equity Partners LLP since 2010. Mr. Silberman is the Executive Chairman of Strayer Education Inc. He previously served as Strayer's Chief Executive Officer from 2001 to 2013 and has served as its Chairman of the Board since 2003. On May 24, 2013, the company concluded that certain of its goodwill and intangible assets were potentially impaired and that it expects to record a pre-tax non-cash impairment charge in the range of $1.2 billion to $1.4 billion in the fourth quarter ending June 30, 2013 related to its publishing segment.

DIRECTV (NasdaqGS:DTV) is planning a potential bid for Hulu, LLC, according to a person familiar with the matter. Hulu's owners, including The Walt Disney Company (NYSE:DIS), News Corp. (NasdaqGS:NWSA); and Comcast Corporation (NasdaqGS:CMCS.A) are considering various strategic options for the site including a sale. Other firms that have bid or expressed interest in Hulu include cable operator Guggenheim Partners, LLC; Hulu, LLC; Time Warner Cable Inc. (NYSE:TWC); Yahoo! Inc. (NasdaqGS:YHOO); and former News Corp. President Peter Chernin's investment group. People familiar with the matter say pay TV operators like DirecTV could be interested in the site in part to expand their so-called "TV Everywhere" services, which make TV shows available over the Web to pay TV customers. Share price of DirecTV is up by 0.76%, share price of Walt Disney up by 0.17%, share price of News Corp up by 1.10%., share price of Comcast Corp. decreases by 0.54%, share price of Time Warner Cable up by 0.75% and share price of Yahoo decreases by 0.23%.

News Corp. announced the appointment of Antoinette Cook Bush as Executive Vice President and Global Head of Government Affairs for the new News Corporation, the proposed global publishing entity to be formed as part of the company's intended separation into two independent, publicly traded companies. In her new role, effective June 24, Ms. Bush will report to Robert Thomson, Chief Executive Officer of the new News Corporation, and be based in Washington, D.C. Ms. Bush joins the new News Corporation from Skadden, Arps, Meagher & Flom LLP, where, over her nearly 20-year tenure, she rose to become the Partner in charge of its Communications Group.