Inside Murdoch’s Decision

Rupert Murdoch long resisted any suggestion — be it from bankers or executives within News Corp. — that the media conglomerate spin off the company’s newspaper assets, which had become a drag on the stock.

“I was hanging on, and so was the whole family,” the 81-year-old Mr. Murdoch said in an interview Thursday. “We were very emotional about it. … I went through lots of ups and downs.”

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