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21st Century Fox is a publicly traded spin-off of News Corporation. The company will be formed by the splitting of entertainment and media properties from News Corp., such as the Fox Entertainment Group, STAR TV, their 39.14% stake in BSkyB, Sky Italia and their 54.5% stake on Sky Deutschland. Rupert Murdoch will remain chairman, CEO and majority shareholder of the new company, joined by Chase Carey as its president and COO. News Corp.'s board approved the split on May 24, 2013, while shareholders approved the split on June 11, 2013; the company is scheduled to complete the split on June 28 and formally start trading on July 1. Plans for the split were originally announced on June 28, 2012, while additional details, and the working name of the new company were unveiled on December 3, 2012.