Murdoch denies break-up linked to phone hacking scandal

Rupert Murdoch has denied that breaking up the News Corporation media empire has any links to the phone hacking scandal engulfing the company, saying the split has been more than three years in the making.

Rupert Murdoch: at the Leveson enquiry
Rupert Murdoch: at the Leveson enquiry

Murdoch was speaking today (28 June) on a conference call, in which he outlined the reasons for the break-up.

"This is not a reaction to anything in Britain," he said, adding that he thought "naysayers" would view the split as an indication that he had concerns about the growth prospects of the publishing arm, which includes newspaper titles, The Sun and The Times.

He said clearly this wasn't the case, highlighting his belief in the future of publishing by saying that he taken a strong lead in introducing the strategy of paid-for news content.

The Times news content sits behind a paywall while the Wall Street Journal runs a metered pay strategy.

Questions were addressed to Murdoch on a number of issues, primarily from analysts, including why News Corporation had not appointed a CEO of its publishing arm. Murdoch will be chairman of both companies and chief executive of its entertainment business.

Murdoch said: "We have a wonderful group of managers in the whole company to choose from. This is going to take months to complete and we're in no hurry to make a decision on that."

A contender for the role is likely to be Tom Mockridge, currently chief executive of News International.

News Corporation added that the break-up would not make it more likely that it would try and make another bid for a takeover of BSkyB.

David Devoe, chief financial officer of News Corporation, said: "We have no changes in the plans we've talked about on BSkyB."

Follow John Reynolds on Twitter @johnreynolds10

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

Bloomberg launches business hub to expand beyond the city

Bloomberg launches business hub to expand beyond the city

Bloomberg has expanded its media footprint with the launch of a new flagship media site, Bloomberg Business, designed to broaden the financial giant's remit in the business world.

Share
Unilever reviews £3bn global media

Unilever reviews £3bn global media

Unilever, the owner of Dove and Flora, is reviewing its £3 billion global media account.

Share
Emily Bell: Google, Facebook and Twitter 'taking over mainstream media'

Emily Bell: Google, Facebook and Twitter 'taking over mainstream media'

Emily Bell, the director of Columbia University's Tow Centre for digital journalism, warned the current dynamics between the press and digital "super platforms" like Google, Twitter and Facebook are "not working", when presenting The 12th annual Hugh Cudlipp Lecture on 26 January 2015.

Share

Get news by email