Rupert Murdoch announces details of corporate split

Starting the week with a host of announcements, News Corporation said yesterday that Dow Jones Editor-in-Chief and Managing Editor of The Wall Street Journal Robert Thomson will become the CEO of the new proposed publishing entity, following News Corps intended separation into two independent, publicly traded companies.

In keeping with the company’s 60-year heritage of bringing news to the world, the publishing entity will retain the name News Corporation. The media and entertainment company, which began in earnest when Chairman and CEO Rupert Murdoch acquired 20th Century Fox and launched the Fox Network more than 25 years ago, will be named Fox Group.

As previously announced, Rupert Murdoch will serve as Chairman of the new News Corporation and Chairman and CEO of Fox Group. Chase Carey will serve as President and Chief Operating Officer of Fox Group, with James Murdoch continuing in his capacity as Deputy Chief Operating Officer.

Under their collective leadership, Fox Group will continue to try and strengthen its creative content businesses and distribution assets, including enhancing its sports portfolio through key investments in Asia, Europe and Latin America.

Meanwhile, it was announced that BSkyB’s No 2 is to become chief executive of News International, replacing Tom Mockridge who confirmed his resignation from running the company.

Mike Darcey will take over at the end of the year, having spent six years as chief operating officer at the satellite broadcaster behind James Murdoch and Jeremy Darroch. Papers published under his control will include the Sun and the Times.