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Posts Tagged ‘David DeVoe’

David DeVoe to Retire from News Corp.

David DeVoe, CFO of News Corporation, will retire from the company after it splits, on June 28. He will retain his seat on News Corp.’s board of directors, a spot he has held since 1990.

Succeeding DeVoe is John Nallen, who will be named senior executive VP and CFO of 21st Century Fox, the entertainment side of the News Corp. split. Nallen has been with News Corp. for 18 years. His appointment will be effective July 1 and he’ll report to Chase Carey and Rupert Murdoch.

In a statement, Murdoch said of DeVoe, “I would like to express my profound gratitude to Dave for his enormous contributions to News Corp. over nearly three decades in which he has played a pivotal role in building the Company into a global leader. He is a world-class executive whose stellar financial stewardship can be credited for the enviable financial position we’re in at this exciting time in the company’s evolution.”

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Murdoch, Bancrofts To Have Tea, Discuss $5B Sale Offer

murdoch_060407.jpgAfter posturing on both sides, Rupert Murdoch and the Dow Jones’ controlling Bancroft family are scheduled to meet today at the offices of Bancroft family legal adviser Wachtell, Lipton, Rosen & Katz. Part social gathering, part business meeting, according to the Wall Street Journal. Attending: Murdoch, News Corp. CFO David DeVoe and general counsel Lawrence Jacobs, Bancroft family members Christopher Bancroft, Leslie Hill and Elizabeth Steele, who are also Dow Jones directors, Dow Jones chairman M. Peter McPherson, family trustee Michael Elefante and attorney Martin Lipton, who is advising the family.

And that doesn’t include the tea-fetching help.

More analysis than is probably necessary:

  • NYT: David Carr on the “very modern media moment” — and the social ballet of it all.

  • WSJ: Long, tense deliberations, indeed.
  • NYT: How the Bancrofts decided to talk with Murdoch.
  • FT: “Ensuring the absolute and permanent editorial independence and integrity of the Journal and other Dow Jones publications is the family’s number one priority.”
  • Slate: Jack Shafer: The Bancrofts can’t possibly trust Murdoch with the Wall Street Journal.
  • LAT: Do we really want Murdoch to control our single most important source of information on business and economics?
  • NYT: Some on the WSJ staff don’t.
  • WSJ: Murdoch may make concessions.