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Raising money by selling non-core assets is difficult.
Across the globe, News Corp has been disposing of non-core assets.
The second ambition is to "accelerate" (a favourite word) the sell-off of non-core assets.
"The sale of non-core assets would hurt that core franchise," he says.
Their recent disposals of non-core assets have helped win over distrustful shareholders.
"When you have non-core assets to sell why would you sell core assets".
One possibility is that further consolidation will lead to pharmaceuticals companies selling non-core assets.
"They will probably try to sell some non-core assets abroad, like the broadband business in Spain and France.
They can sell off non-core assets, extract generous management fees, and pay themselves special dividends financed by debt issues.
Parmalat, the Italian food company, has been trying to sell non-core assets after filing for insolvency in December 2003.
Option two is to sell off non-core assets or reduce assets in their risky trading books.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com