News Corp. (NWS, NWSA) has hired Centerview Partners LLC,
Goldman Sachs Group Inc. (GS) and J.P. Morgan Chase & Co. (JPM)
to advise the media conglomerate on the possible separation of the
publishing and education businesses from its film and television
assets, according to a person familiar with the matter.
News Corp. already has a longstanding relationship with bankers
affiliated with the firms. Centerview banker Blair Effron advised
News Corp. on its takeover of Dow Jones & Co. in 2007, as did
J.P. Morgan media banker Jimmy Lee.
News Corp. owns Dow Jones, publisher of this newswire and The
Wall Street Journal.
The advisers will have responsibility for guiding News Corp.
through a potentially complex separation process, which will
include determining how to manage the company's current $10 billion
share buyback program and how to divide its considerable balance
sheet and other global assets.
It wasn't clear if boutique investment bank Allen & Co., a
long-time adviser to News Corp., would play a role in any
separation. Allen & Co. banker Stanley Shuman is a director
emeritus on the News Corp. board.
Representatives for Goldman Sachs, J.P. Morgan, and Centerview
didn't immediately respond to requests for comment. A spokeswoman
for Allen & Co. declined to comment.
--Brett Philbin contributed to this article.
Write to William Launder at william.launder@dowjones.com