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Posts Tagged ‘News Corp.’

Morning Media Newsfeed: Murdoch Ups Sons | Twitter Ban Overturned | NYT Adds Digital Subs

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Rupert Murdoch Elevates Eldest Son to Be His News Corp. Co-Chairman (The Guardian / Greenslade Blog)
Rupert Murdoch’s eldest son, Lachlan, has been promoted to the role of non-executive co-chairman on the News Corp. board. It means that the two will work alongside each other. Rupert, the executive chairman, described the appointment as “recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport.” TVNewser Lachlan has been named non-executive chairman at both News Corp. and 21st Century Fox. The 42-year-old has been a director of both companies, but effectively left the media empire in 2005 where he had been deputy chief operating officer directly responsible for News Corp.’s U.S. television stations group and publishing assets. After Lachlan left News Corp., Roger Ailes, the co-founder and chairman of Fox News Channel, was named chairman of News Corp.’s (now 21st Century Fox’s) television stations group. FishbowlNY The promotion means that Lachlan is all but guaranteed to take over News Corp. when Rupert steps down. In the past, it was believed that James Murdoch was the heir apparent, but no more. James was promoted as well — to co-chief operating officer at 21st Century Fox. Financial Times James’ elevation comes two years after he was embroiled in the U.K. phone hacking scandal as the former head of News Corp.’s U.K. newspaper business. His new position gives him a more central executive role at one of America’s most global media companies, in contrast to Lachlan’s non-executive position, keeping him in contention in a succession race that has seen numerous twists. James will share his new title with Chase Carey, a trusted adviser and second-in-command to Rupert, to whom he had reported in his previous role as deputy chief operating officer. Reuters Each son has at various times been seen as heir apparent, and it is unclear how well they will work together when Murdoch finally hands over the companies. The Murdoch family controls both Fox and News Corp. through a trust that has a 38 percent ownership stake of Class B shares with voting rights. A source familiar with the companies said that the plan to elevate Lachlan and James had been in the works for a while and that a tussle over control would be unlikely.

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Lachlan Murdoch Gets Top Spot on News Corp Board

The future of News Corp just landed in the lap of Lachlan Murdoch. The New York Times reports that Lachlan — most recently a director of News Corp and 21st Century Fox — has been promoted to non-executive co-chairman, the top spot on News Corp’s board. Lachlan’s father, Rupert Murdoch, owns 40 percent of the company, and will remain executive chairman.

The promotion means that Lachlan is all but guaranteed to take over News Corp when Rupert steps down. In the past, it was believed that James Murdoch was the heir apparent, but no more. In what seems like a “Oh, I’ve got a present for you too, son” move, James was promoted as well — to co-chief operating officer at 21st Century Fox.

In a statement, Rupert said Lachlan’s promotion was “a sign of confidence in the growth potential of News Corporation and a recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport.”

Morning Media Newsfeed: AP Changes Style | Frum to The Atlantic | Phone Hacker Pressured

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AP Decides That Crimea Can No Longer Be Called Part of Ukraine (HuffPost)
The Associated Press announced Wednesday that it is changing the dateline on all of its stories from Crimea now that the region is being controlled by Russia and not Ukraine. The wire service said that it would no longer identify stories written there as coming from “Ukraine.” Rather, they will carry the dateline “Crimea.” The Hill / Global Affairs “Previously, we wrote ‘SEVASTOPOL, Ukraine (AP).’ But Ukraine no longer controls Crimea, and AP datelines should reflect the facts on the ground,” the news wire wrote in a guidance. Effective this week, the AP said it will now name a city and then Crimea. Politico / Dylan Byers on Media Because of a quirk of geography — the fact that Crimea doesn’t share a land border with Russia — the AP says it won’t use a “SEVASTOPOL, Russia” dateline, which would inevitably spur a heated political debate. The Guardian The AP has waded into controversy before on its quest to avoid controversy. A year ago, the AP banned “illegal immigrant” and “illegal” to describe a person, explaining that “‘illegal’ should describe only an action,” especially as the editors decided it was important not to label people, “instead of behavior.” Slate / The Slatest The latest decision also begs the question, what would the AP do if there were a shared border or if Russia were to grab more land in Ukraine, thereby connecting the regions?

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Morning Media Newsfeed: Court Orders Video Down | Former Editor Stabbed | TiVo Posts Profit

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YouTube Ordered to Take Down Anti-Muslim Film (The Associated Press / The Big Story)
A U.S. appeals court ordered YouTube on Wednesday to take down an anti-Muslim film that sparked violent riots in parts of the Middle East and death threats to the actors. The decision by a divided three-judge panel of the 9th U.S. Circuit Court of Appeals in San Francisco reinstated a lawsuit filed against YouTube by an actress who appeared briefly in the 2012 video that led to rioting and deaths because of its negative portrayal of the Prophet Muhammad. U.S. News & World Report A trailer promoting the film was blamed for murderous rampages in Muslim-majority countries in 2012 and was initially cited by some U.S. officials as the cause of the Sept. 11, 2012, attack that killed U.S. ambassador Christopher Stevens in Benghazi, Libya. Time The appeals court found that the copyright of one of the stars of the video had been infringed upon because the actress, Cindy Lee Garcia, agreed to appear in something other than what was produced. The film, entitled Innocence of Muslims, depicted the prophet Mohammed as a liar and a child molester. “Garcia’s performance was used in a way that she found abhorrent and her appearance in the film subjected her to threats of physical harm and even death,” chief judge Alex Kozinski wrote for the majority court. The Verge It’s well established that most people involved in Innocence of Muslims had no idea they were appearing in a diatribe against Islam. Garcia was paid $500 for a bit part in sword and sandals movie Desert Warrior, but she later found her footage had been edited for the new film and overdubbed with one of the most controversial lines: “Is your Mohammed a child molester?”

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Does WSJ Have a Problem Disclosing Conflicts of Interest?

wsj

A letter published by The Wall Street Journal on Saturday drew criticism from Jewish groups and readers for comparing recent protests targeting San Francisco’s wealthiest residents to a series of 1938 riots, instigated by German Nazis, that left dozens dead and kicked off the Holocaust.

And as some began to question why the business paper of record give a platform to such a far-fetched analogy — in a letter that also unexpectedly glorifies serial novelist Danielle Steel as the city’s No. 1 celebrity — even if the writer was a legendary Silicon Valley venture capitalist.

In an italicized tagline beneath the letter, WSJ introduced the author, Thomas Perkins, as founder of the VC firm Kleiner, Perkins, Caufield & Byers — which, despite bearing his name, distanced itself on Saturday from the “partner emeritus” profiled on its website.

A quick Google search reveals more relevant biographical details.

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Lex Fenwick Out at Dow Jones

Lex Fenwick is out as CEO of Dow Jones. News Corp. just announced that Fenwick — who joined the company in 2012 — is departing, and William Lewis will takeover as interim CEO.

The company also proclaimed that it “plans to review Dow Jones’ institutional strategy.”

“We thank Lex for his time and energy at the helm of Dow Jones, and in particular for his original vision of DJX as an innovative way to integrate content and deliver it to customers in a timely manner,” said Robert Thomson, CEO of News Corp, in a statement.

Lewis joined News Corp’s News International in 2010. He most recently served as News Corp.’s chief creative officer.

Morning Media Newsfeed: AOL Sells Patch | Yahoo! COO Out | News Corp. Ices Pensions

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AOL Unloads Controlling Interest in Patch (Capital New York)
AOL all but unloaded its embattled local news network Patch to investment firm Hale Global on Wednesday. Patch will act as a new limited liability company majority owned and operated by Hale. The hyper-local network was a pet project of AOL CEO Tim Armstrong. It hired hundreds of reporters and ad sales staff in a bid for a local advertising market that has yet to materialize, eventually leading Armstrong to promise AOL investors that it would break even by the end of 2013. That did not happen, and the company began to seek buyers. NYT Hale Global, an investment company that specializes in turning around troubled companies through technological innovation, would essentially take over the operation, AOL said. Hale’s intention for now, the companies said, is to keep operating all of Patch’s 900 sites. The financial terms of the deal were not disclosed. Forbes / Jeff Bercovici On its bare-bones website, Hale Global describes itself this way: “We specialize in creating value operationally in businesses facing strategic, financial, product and other challenges. In addition to capital, we bring to these troubled situations extensive turnaround skills, deep operational benches, in-house software and mobile development teams, extreme transactional speed and certainty of close.” Re/code In 2012, Patch lost $35 million; by the end of last month, it was still losing money. Now it’s someone else’s problem. TechCrunch Despite whatever downsizing may have taken place, Patch is still large, possibly too unwieldy to steer into better waters as it is today. But on top of that, it’s seeing decent traffic of 16 million people monthly according to figures from comScore. So now, the plan going forward will be to focus on a few changes to convert some of that traffic into revenues: new technology for community participation; more mobile-first and social experiences; better advertising tools and more geo-targeting for ad products, according to AOL’s announcement.

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News Corp Buys Social News Site Storyful

News Corp has purchased Storyful, an Ireland-based startup that works with media companies to gather and verify news via social networking sites. News Corp shelled out $25 million for Storyful, which was founded in 2010 by Mark Little, a former journalist.

As part of the deal, Storyful will operate as its own business under the News Corp umbrella. Its existing partnerships with media companies will continue. Little and David Clinch, Storyful’s executive editor, will still oversee the company’s operations. Rahul Chopra, senior VP of video for News Corp, will join Storyful’s management team, and add chief revenue officer to his role.

“Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialise user-generated content,” said Robert Thomson, CEO of News Corp, in a statement. “Through this acquisition, we can extend the village square across borders, languages and platforms.”

Morning Media Newsfeed: Lindgren Out at NYT Mag | Robach Has Cancer | News Corp Revenue Dips

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Hugo Lindgren Out as Editor of The New York Times Magazine (Capital New York)
Hugo Lindgren is leaving his position as editor of The New York Times Magazine at the end of the year, Capital has learned. There’s no word yet on plans for a successor. Rumors of a change at the paper’s glossy Sunday supplement leaked out Monday afternoon. But speculation about Lindgren’s future at the magazine has been swirling for some time now, with multiple sources suggesting in recent months that he could be on his way out. The Atlantic Wire Lindgren was hired by Jill Abramson’s predecessor as executive editor, Bill Keller, in 2010. Previously, he’d worked for former Times editor Adam Moss. Among the side-stories emerging from a controversial Politico piece on Abramson last April was a rumor that the executive editor might be looking to shuffle Lindgren out of the magazine editor role. THR There’s no word yet on who will succeed him. Lindgren shook up the Times‘ publication with several personnel changes, jettisoning longtime Ethicist Randy Cohen in favor of Ariel Kaminer, then Chuck Klosterman.

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From Staff Writer Intern to 300K EIC

CentelMediaLogoThe first paragraph of this week’s announcement about the acquisition of libertymetro.com by Centel Media is notable for two reasons. One, it reveals in the very first paragraph the annual salaries of two folks associated with the forthcoming, revived website. And two, those salaries are insane:

The details are still being finalized, but the website is slated to return early next year. Regina Edmond has been named CEO of Liberty Metro and will have a starting salary of 480K per year, while Matthew Shaffer, editor-in-chief, will be paid 300K. These salaries were not originally part of the deal, but were spearheaded by [Centel Media CEO Jack] Cola in the late stages of the buyout.

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