Rupert Murdoch’s media giant News Corporation has revealed the name of the independent new entertainment company that will operate when its publishing assets are separated, as a result of the scandal that began with the hacking of celebrity voicemail messages, by investigators working for its defunct News of the World newspaper.

The newspaper and magazine publishing empire will remain branded as News Corporation, while the TV and film companies will come under a new umbrella group, called 21st Century Fox.

Murdoch, who will serve as the Chairman and Chief Executive Officer of the new independent group, said the name drew on the “rich creative heritage” of his movie studio, while hinting at the “innovation and dynamism” that define his companies.

Chase Carey, the future company’s President and Chief Operating Officer, said “We believe that the 21st Century Fox name captures the power of our legacy as well as the vast opportunities for our consumers, businesses and investors as we look forward.”

The new 21st Century Fox group will include pay TV channels, such as FX and the Fox News Channel, the Fox broadcast TV network, European TV providers including the UK’s Sky channels — and the film and TV studios, which will keep the Twentieth Century Fox brand.