04/16/2013 04:46 EDT | Updated 06/16/2013 05:12 EDT

News Corp to name entertainment company 21st Century Fox

NEW YORK, N.Y. - News Corp. says the name of the entertainment company that will survive when its newspapers are spun off into a different company will be 21st Century Fox.

That plays off its movie studio, 20th Century Fox, for the current century. Previously News Corp. planned to call the movie and TV show company Fox Group.

CEO Rupert Murdoch said the new name draws on the rich heritage of the movie studio while hinting at the innovation and dynamism of its properties.

21st Century Fox will hold pay TV channels like FX and Fox News Channel, the Fox broadcast TV network, movie and TV studios under the 20th Century Fox umbrella and European pay TV providers such as Sky Italia.

The publishing company will still be called News Corp.

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