News Corp broadcast division to trade under Fox Group brand
Editor | 04-12-2012
Media behemoth News Corp has revealed the details of its split into two independent, publicly traded companies, with the media and entertainment (M&E) divisions to be branded the Fox Group.
The company said that the new M&E brand is totally fitting given that News Corp began in earnest when chairman and CEO Rupert Murdoch acquired 20th Century Fox and launched the Fox Network more than 25 years ago.
Despite the fears and hopes of some that his days at the top were numbered following the News International phone hacking scandal, Murdoch will serve as chairman of the new News Corp and chairman and CEO of Fox Group. Current News Corp COO Chase Carey, regarded as the most likely long-term successor to Murdoch, will serve as president and chief operating officer of Fox Group, with James Murdoch, recently criticised in the Leveson enquiry for his management as head of News International, continuing in his capacity as deputy chief operating officer.
The new management team have assured that under their collective leadership, Fox Group will “continue to strengthen its creative content businesses and distribution assets”. This will include enhancing the key sports portfolio through key investments in Asia, Europe and Latin America.
"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,” commented Rupert Murdoch. “ 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."