Don Groves is a Deadline contributor based in Sydney
Rupert Murdoch’s Australian empire will generate as much of 60% of the annual earnings of the publishing arm of News Corp. after the company splits this year, say Sydney-based analysts who are generally sanguine about the new News Corporation’s prospects. The Oz group has largely gone under the radar of international investors until now because its financial results were not disclosed. With that set to change after the split, Kim Williams, CEO of Australian division News Limited, will face increased pressure and scrutiny from the get-go.
ComSec’s Alice Bennett expects News Corporation stock to be sold off aggressively at the start, creating one of the initial challenges for Williams. Bennett believes the sale will be down to factors that include News Corp.’s exposure to the Australian and New Zealand economies; the fact that publishing reps 53% of earnings; ongoing losses at the Amplify education business and the risk of further litigation in the UK. But, she does allow, “When the dust settles post demerger, we think this vehicle could provide some interesting opportunities for Australian investors given the highly cash-generative pay TV assets and higher-growth online assets.” Fox Sports and Foxtel, of which News Corp. holds 50%, are staying in the publishing fold. The company also owns 61% of realestate.com.au. READ MORE »
As News Corp works toward dividing into two distinct companies, executive appointments have steadily continued on the publishing side. Raju Narisetti, currently a deputy managing editor at The Wall Street Journal and managing editor of The Wall Street Journal Digital Network, has been named SVP and deputy head of strategy for the new News Corporation. Narisetti takes up his functions March 11, reporting to Anoushka Healy, who was recently named chief strategy officer. Click over for the official press release: Read More »
As News Corp. prepares to split into two distinct entities, two senior roles have been filled on the publishing side. Times and Sunday Times group managing editor Anoushka Healy has been named chief strategy officer and William Lewis, an executive member of News Corp.’s Management and Standards Committee, has been named chief creative officer. Both execs will be part of News Corporation, as the spun off publishing division will be known (the media and entertainment half of the company will be called Fox Group). The separation of the businesses is expected to be completed by the end of June. Here’s the release on the new appointments:
New York, NY – February 1, 2013 – News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced two senior management appointments for the New News Corporation, the proposed global publishing entity to be formed as part of the Company’s intended separation into two independent, publicly traded companies.
Anoushka Healy, currently Group Managing Editor of The Times and Sunday Times in London, has been named Chief Strategy Officer and will help shape the new News Corporation and fashion its strategic direction. She will also be responsible for sharing best practices across the organization, implementing new projects and supporting talent around the company’s businesses.
William Lewis has been appointed Chief Creative Officer. He will be responsible for the new company’s creative strategy and will have a central role in developing new commercial opportunities, including product launches, digital initiatives and acquisitions. Mr. Lewis joined News Corporation as Group General Manager of News International in London in September 2010 and became an executive member of News Corporation’s Management and Standards Committee in July 2011.
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News Corp. has confirmed that Dow Jones editor-in-chief and Wall Street Journal managing editor Robert Thomson will become CEO of its publishing division once the conglomerate is split into two distinct entities. Rupert Murdoch‘s company has also unveiled names for the two businesses: The publishing arm will retain the News Corporation moniker, “in keeping with the company’s 60-year heritage of bringing news to the world,” and the entertainment company will be known as Fox Group. Today’s announcement focused primarily on the publishing business and notably said that stand-alone publication of The Daily iPad app will cease on December 15. The brand will “live on in other channels,” the company said. Founding editor of The Daily, Jesse Angelo, will become publisher of The New York Post.
Related: Rupert Murdoch’s iPad Folly The Daily Folds
Other management moves include deputy editor-in-chief of the Journal, Gerard Baker, succeeding Thompson at the paper and at Dow Jones and the appointment of former MGM CFO Bedi Ajay Singh to the role of CFO of the publishing company. In London, BSkyB COO Mike Darcey will replace Tom Mockridge as CEO of News International; Mockridge announced his departure on Sunday. Below is this morning’s full News Corp press release:
NEW YORK – December 3, 2012 – News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced 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 the Company’s 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 strengthen its creative content businesses and distribution assets, including enhancing its sports portfolio through key investments in Asia, Europe and Latin America.
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Observers I have spoken to predict that News Corp’s James Murdoch will be better briefed than he was in July — and may admit to a small mea culpa — when he returns to Parliament tomorrow to answer questions about the News Of The World phone-hacking scandal. He’s expected to continue to defend his inaction about the lawbreaking in the face of mounting evidence that he must have known more about the problem earlier in the process than he previously testified. Back in July, he denied knowing until late 2008 that phone-hacking at NOTW went beyond one rogue reporter. That would clear him of the charge that he authorized hush-money earlier in the year when he approved a $1.4M settlement for a hacking victim who knew that a second reporter was involved — on the condition that the victim he keep quiet about the matter. Since Murdoch testified, senior News International executives have gone public and said James must have known the gory details because they told him. And a devastating legal opinion has come to light from lawyer Michael Silverleaf, who worked for News International and pointed out that NOTW had a culture of illegal information-gathering. There is no smoking gun to contradict James, just vague notes written up after briefing meetings with him. Read More »
UPDATE: Today News Corporation, Providence Equity Partners, The Walt Disney Company, and the Hulu senior management team issued a joint statement that it was terminating the sale of Hulu. ”We look forward to working together to continue … Read More »
Hugh Grant, as Deadline revealed over the summer, backed out of replacing Charlie Sheen as the star of Two and a Half Men at the last minute. Now he is filming Cloud Atlas with Tom Hanks, Halle Berry and Jim … Read More »