NEW YORK, NY, April 14, 2009 –
News Corporation Chairman and Chief Executive Officer Rupert Murdoch announced today the formation of a new portal that will allow its worldwide editorial properties to share content and resources across the entire company.
In making the announcement, Mr. Murdoch said, “The creation of a new unit designed to share valuable news content and harness the power of News Corporation’s vast editorial resources is vital to our success as a global media entity.”
John Moody, who until today was Executive Vice President of News Editorial for FOX News, will oversee the new unit and report directly to Mr. Murdoch. In this new role, Moody will collaborate with news chiefs across all News Corporation properties to improve news gathering efficiencies and identify areas of cost savings. He will also investigate the company’s worldwide contracts and reliance on global news services.
Mr. Murdoch commented, “John’s strong editorial judgment is one of the reasons FOX News is the leading news network in America. I expect he’ll lend the same experience and discipline to this new endeavor.”
Moody added, “I’m honored to embark on this new venture at a critical time in our industry when change so often begets opportunity. News Corporation has embraced innovation like no other company in today’s media landscape. I look forward to being a part of that remarkable dynamic.”
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of December 31, 2008 of approximately US$50 billion and total annual revenues of approximately US$33 billion. News Corporation is a diversified global media company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.
Contact:
Teri Everett 212-852-7070
Jack Horner 212-852-7952