News Corporation was a global media conglomerate founded by Rupert Murdoch in 1979. It was known for its diverse portfolio, which included newspapers, television networks, and film production companies. Some of its notable assets included The Wall Street Journal, The Times, and 20th Century Fox. In 2013, News Corporation split into two separate entities: 21st Century Fox, which focused on entertainment, and News Corp, which concentrated on publishing and news. This restructuring aimed to enhance the focus and performance of each company in their respective industries.