SYDNEY, June 28 (Xinhua) — News Corp shares listed on the Australian Securities Exchange rose more than 3 percent on Thursday on U.S. media reports that the board of Rupert Murdoch’s News Corporation has approved the plan to split the international media company into two separate businesses.

News Corp shares were up 3.05 percent, or 66 AU cents, to 22.16 AU dollars at 12:40 local time on Thursday on the Australian Securities Exchange (ASX), after the Wall Street Journal, which is owned by News Corp, reported that the News Corp board was going ahead with separating its television and movie operations from the news and media businesses.

The report said a formal announcement of the split would be released on Friday.

Market analysts said the share price was reacting to the reports of the split approval.

Editor:James |Source: Xinhua