News Corp to name Thomson as CEO of publishing company
December 2 , 2012
News Corp is set to name Robert Thomson, a close confidant of Chairman and CEO Rupert Murdoch, to lead its new publishing company by the end of next week.
Thomson is currently managing editor of the Wall Street Journal and editor in chief of its publisher Dow Jones & Co, which acquired by News Corp in 2007.
In June, News Corp said it was to split into two firms, separating its newspaper and book publishing interests from its television and film business.
Murdoch is expected to chair both businesses but will only be the chief executive TV and film enterprise.
Media commentators see the move as an attempt by News Corp to shift away from its newspaper investments due to declining circulation and the phone-hacking scandal and the Leveson Inquiry in Britain.
The split will see News Corp's 20th Century Fox and the Fox broadcasting network grouped as one company.
The other company will hold the firm’s publishing interests, such as the Wall Street Journal, the Times, the Sun, the Australian, the New York Post and publisher HarperCollins.
The split into two publicly traded companies is expected to be completed by the end of June.