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Revolving Door Newsletter: 02.24.09

News Corp. To Lose Its No. 2, Yahoo Plans To Reorganize

February 24, 2009
Despite Rupert Murdoch's recent display of compassion, his longtime No. 2, Peter Chernin, will leave the Aussie media mogul's News Corp. in June, after failing to come to an agreement about a contract. The 77-year-old Murdoch has no plans to replace Chernin, instead opting to take over day-to-day operations himself. He has his work cut out for him, as News Corp.'s stock price has plummeted nearly 75 percent from its peak, now trading around seven dollars a share. Chernin has been with Rupe for the past 12 years, but industry insiders speculate he might be leaving due ...

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