News Corp. announces details on company split

Publishing side to keep News Corp. name, entertainment side to be called Fox Group

NEW YORK — News Corp. said Monday that its new publishing company will keep the News Corp. name, while its separate media and entertainment company will be renamed Fox Group.

The conglomerate announced plans this summer to split into two public companies, one for its newspaper and book publishing business and the other for its fast-growing movie and TV operations. Rupert Murdoch will serve as chairman of the new News Corp. and chairman and CEO of Fox Group.

The new News Corp. will house newspapers such as The Wall Street Journal and New York Post as well as Dow Jones Newswires. The Mail Tribune's and the Ashland Daily Tidings' parent company is the Dow Jones Local Media Group, which also is owned by News Corp.

Fox Group, meanwhile, will include 20th Century Fox film and television studios and the Fox TV channels among other properties.

The company named Wall Street Journal managing editor Robert Thomson as CEO of the new News Corp. He's set to begin his work on Jan. 1. Chase Carey will serve as president and chief operating officer of Fox Group. James Murdoch will stay on as deputy chief operating officer of Fox Group.

As part of the changes, News Corp. said it will cease publication of The Daily, its iPad news application, on Dec. 15.

"From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation," Rupert Murdoch said in a statement.

"Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long term."


Reader Reaction
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form. New comments are only accepted for two weeks from the date of publication.
COUPON OF THE WEEK