Rupert Murdoch to step down from running newspapers

Rupert Murdoch will be chairman of the divided News Corporation empire but will not be chief executive of the publishing arm, home to The Sun and The Times newspapers, the media company today (28 June) confirmed.

Rupert Muroch: chairman of the divided News Corporation empire
Rupert Muroch: chairman of the divided News Corporation empire

News Corporation has disclosed details of the planned separation of News Corporation into its publishing arm and faster-growing media and entertainment side. It hopes to complete the changes within 12 months.

Murdoch, who is currently chairman and chief executive of News Corporation, will serve as chairman of both companies and chief executive of the media and entertainment arm.

Chase Carey, News Corporation’s chief operating officer, will become president and chief operating officer of the media and entertainment company.

News Corporation has yet to appoint a chief executive for the publishing arm.

The confirmation of the separation of the empire marks a climb down from Murdoch, who has previously blanched at suggestions of a break-up of the company.

Murdoch today said: "We recognize that over the years, News Corporation’s broad collection of assets have become increasingly complex.

"We’re determined that creating this new structure would simplify operations and greater align strategic priorities, enabling each company to better deliver on our commitments to consumers across the globe."

The move comes in the wake of the phone hacking scandal, which led to the closure of the News of the World and the exit of a number of key executives.

News Corporation said the separation would lead to a number of benefits, including meaning it would become more competitive and be quicker to respond to technological changes in the market.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Williams promoted at ITV as Hazlitt departs

Williams promoted at ITV as Hazlitt departs

ITV has promoted Kelly Williams, the group commercial sales director, to managing director of commercial, as Fru Hazlitt steps down.

Share
Macmillan Cancer Support scoops Brand of the Year Award

Macmillan Cancer Support scoops Brand of the Year Award

Macmillan Cancer Support, one of the UK's leading and most admired cancer charities, was voted The Marketing Society's Brand of the Year at its annual dinner last night, in association with Marketing and Advertising Week Europe.

Share
Better Together
[Sponsored feature]

Better Together

With consumers making their own media choices, deserting the high street and finding out about brands on their own terms, agencies are wondering how to join up all the dots. Welcome to the interconnected world. By Stuart Derrick

Share

Get news by email