News Corporation has announced the promotion of Jeremy Philips to the position of executive vice president, office of the chairman.
The role will see Philips assume responsibility for the company’s internet investments as well as focusing on acquisitions and strategy. He will continue to report to Rupert Murdoch, News Corporation’s chairman and chief executive officer.
In its latest trading statement, the company announced a net loss of $246.8 million for the third quarter of last year, despite a 10% increase in revenues year on year (see News Corp Sees Net Loss Of $246 Million In Q3 2005).
Revenue in the quarter was shown to have enjoyed an increase of $0.53 billion compared to the same period last year, reaching $5.68 billion.
News Corp recently purchased American online gaming firm IGN Entertainment, gaining access to around 28 million male internet users, with sites covering video games, films, music, sports, cars and girls (see News Corp Sees Net Loss Of $246 Million In Q3 2005).
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