News Corp chairman and CEO Rupert Murdoch told staff the development on Tuesday ahead of the expected July separation of his company.

21st Century Fox will be the new name for the entertainment division of News Corp, which includes TV assets Fox News Channel, Fox Sports Network, FX and National Geographic Channels, when it separates publishing assets later this year.

In a statement, Murdoch said: “Our new name is inspired by the very first company we acquired nearly 30 years ago as our initial foray into the awe-inspiring world of entertainment. And what a journey it has been.”

However, Fox’s film and television studios will retain the name 20th Century Fox, which Murdoch said was”“in recognition of their rich histories and strong connections with audiences across the globe.”

Murdoch will serve as chairman and CEO of 21st Century Fox and chairman of the publishing company, which will retain the News Corp name and includes newspapers and publisher HarperCollins.

Chase Carey will become 21st Century Fox’s president and COO.