(Wall Street Journal; Twitpic)
News Corp. named Wall Street Journal Managing Editor Robert Thomson as CEO of its soon-to-be spun-off publishing entity.
News Corp., which will split into two publicly traded companies — the other will be entertainment-focused — also announced the publishing company will retain the News Corp. name and that Rupert Murdoch would serve as its chairman.
The entertainment company will be named Fox Group.
Murdoch will be CEO and chairman of Fox Group. Chase Carey will serve as COO and president.
“The challenges we face in the publishing and media industries are great, but the opportunities are greater,” Murdoch said in a statement.
The assets of the new News Corp. will include the Journal, Times of London and The Post.
“Under Robert’s leadership at News Corp., we will build on our traditional mission to inform, entertain and enhance the lives of readers and viewers around the world, and relentlessly drive global growth by promoting excellence and investing in our businesses,” Murdoch also stated.
The split is expected to take place on July 1.
Thomson, who joined the company from his post as US editor of the Financial Times, will work closely with Murdoch.
Thomson is set to step into the wider role on Jan. 1.
Also joining the newly configured News Corp. is former MGM Studios executive Bedi Ajay Singh, who becomes CFO.
In addition:
* Paul Cheesbrough, current News Corp. chief technology officer, will slide across to join the new News Corp. Cheesbrough developed new digital products for the Times of London. Also, Keisha Smith joins from Morgan Stanley to run human resources.
* The company also named Jesse Angelo publisher of The Post. Angelo, a longtime executive editor of the paper, is editor-in-chief of The Daily, the iPad-only publication. The Daily will cease publication on Dec. 15.
Greg Clayman, publisher at The Daily, is being elevated as digital boss across the publishing division.
* Murdoch has asked the current publisher of The Post, Paul Carlucci, to focus on his other role, running News America Marketing, a company that manages newspaper inserts and in-store marketing.
* Gerard Baker has been named managing editor of the Journal and will take over from Thomson.
* Mike Darcey has been named new CEO of News International. He was COO of BSkyB.
“Change always breeds uncertainty, but let me be very clear about one thing that is certain: We aren’t finished achieving what others deem impossible,” Murdoch said in a memo to employees. “Not even close.”
Separately, News Corp.’s UK newspaper division chief, Tom Mockridge, said he was leaving the company.
News Corp. shares, up more than 37 percent this year, dipped 0.5 percent yesterday, to $24.53.