I just finished watching a presentation on "10 Rules for Strategic Innovators" by Vijay Govindarajan and Chris Trimble.
It is an interesting presentation about making strategic moves for the future and fascinating to hear about the story of New York Times Digital Edition. The speakers talked about making a distinct but linked entity for executing the new strategy. It is definately highly recommended to watch.
From the presentation, it seems that Microsoft Research is holding this speech where ironically MSN/Live (NewCo) is struggling to get away from Microsoft (CoreCo ).
 Not my words. Taken from the presentation.