Murdoch's News Corp publishing arm will have £1.7bn cash

The publishing arm of Ruper Murdoch's News Corp will have approximately £1.7bn ($2.6bn) in cash and no debts when it is spun off from the entertainment assets of the business. The proposed split between publishing and entertainment was announced last June and the spinoff will trade on the Nasdaq.

At the end of 2012 News Corp as a whole currently had $7.8bn in cash and cash equivalents.