News Corp. has formally split itself into two.
The company’s newspaper and publishing businesses will become their own company, retaining the News Corp. name. Dow Jones editor in chief Robert Thomson will become CEO of the new News Corp. January 1. The company is also shutting down The Daily, its iPad-only newspaper.
News Corp.’s TV and film businesses, which include Fox News Channel, Fox Broadcasting and 20th Century Fox, will become part of what is now called “The Fox Group.” The Fox Group will be led by Rupert Murdoch as CEO, and Chase Carey as president and COO.
“At Fox Group, what began with the acquisition of a modest film studio over 25 years ago has grown into one of the world’s most successful media companies of all times, defying conventional wisdom at every turn by pursuing excellence in creativity and innovation,” said Murdoch in a statement. “Fox Group is perfectly positioned to deliver even more inspiring stories that engage audiences through film, television, sports and digital platforms, driving not only financial results but a lasting imprint on the millions of people who enjoy our various services, in every corner of the world.”
After the jump, Murdoch’s note to staff explaining the moves.