News Corp. announced that when it separates into two
publicly traded companies, the media and entertainment businesses will be named
Fox Group.
Fox Group will have Rupert Murdoch as its chairman and CEO,
Chase Carey will be president and COO and James Murdoch will be deputy chief
operating officer.
News Corp. also announced that Robert Thompson will become
CEO of the company holding the publishing assets, which will be known as News
Corp. Thompson had been editor-in-chief of Dow Jones and managing editor of the
Wall Street Journal.
"This is an incredibly exciting time, for me personally, and for our
companies' ambitious futures," Rupert Murdoch said in a statement. "The challenges we face in the publishing and
media industries are great, but the opportunities are greater."
Murdoch added: "At Fox Group, what began with the acquisition of a modest
film studio over 25 years ago has grown into one of the world's most successful
media companies of all times, defying conventional wisdom at every turn by pursuing
excellence in creativity and innovation.
Fox Group is perfectly positioned to deliver even more inspiring stories
that engage audiences through film, television, sports and digital platforms,
driving not only financial results but a lasting imprint on the millions of
people who enjoy our various services, in every corner of the world."
News Corp. announced plans to split into two companies in June. The
company is pursuing regulatory and shareholder approval for the transaction.
