In an announcement, News Corp said it will be naming its newly established entertainment enterprise as 21st Century Fox when the media conglomerate splits its business interests before the end of 2013. 

The name would replace its previously announced name Fox Group and is inspired by its film studio name, 20th Century Fox.

The Chairman and CEO of the new company, Rupert Murdoch said in a statement, "21st Century Fox is a name that draws upon the rich creative heritage of our film studio, while also speaking to the innovation and dynamism that define all of our global media and entertainment businesses and will guide us into the future."

Last June 2012, News Corp announced it would be separating its publishing business from its entertainment unit. 21st Century Fix would include the film studio, the Fox Network and its equity interests in other entertainment divisions such as UK pay-TV company BSkyB.

On the other hand, the publishing company would be retaining the News Corp name and would continue to operate The Wall Street Journal and the Times of London, Australian pay-TV unit, Amplify its new education division and publisher Harper-Collins.