News Corp launches global content-sharing unit
LONDON - News Corporation is forming a new unit that will allow its various editorial operations worldwide such as Fox News, News International and Dow Jones to share content and resources.
Rupert Murdoch: chairman and chief executive of News Corporation
John Moody, who was previously executive vice-president of news editorial for Fox News, will oversee the new unit and report directly to Rupert Murdoch, News Corporation chairman and chief executive.
Moody will collaborate with the news chiefs across all News Corporation editorial operations, including Sky News, Fox News and The Wall Street Journal, to improve news gathering and identify cost savings. He will also investigate the company's worldwide contracts and reliance on global news services.
Murdoch said: "The creation of a new unit designed to share valuable news content and harness the power of News Corporation's vast editorial resources is vital to our success as a global media entity."
In February, News Corp said it was embarking on what Rupert Murdoch deemed at the time "rigorous cost-cutting" as it looked to address a loss of $6.42bn in Q4 2008.
The loss was driven largely by an $8.4bn write-down on the value of its TV and newspaper assets.
Murdoch said results for the quarter were a reflection of what he termed "the grim economic climate", adding that while News Corp anticipated a weakening market, the downturn was "more severe and likely longer lasting than previously thought".
This article was first published on mediaweek.co.uk
Latest jobs Jobs web feed
- Regional Corporate Senior Executive - Volunteer Fundraising (Home Based) Cancer Research UK £25000 - £29000 per annum + Car + Excellent benefits, Nationwide
- Regional Corporate Executive - Volunteer Fundraising (Home Based) Cancer Research UK £20000 - £24000 per annum + Car + Excellent benefits, Nationwide
- ACCOUNT DIRECTORS - Integrated/ATL/TTL/BTL/SP/Shopper/Retail - London - up to £50k Judi Patton £40k-£50k plus excellent benefits, London (Central), London (Greater)
- Digital Delivery Manager Cancer Research UK £35000 per annum + excellent benefits, London
- BTL AGENCY ACCOUNT HANDLERS - integrated, shopper, sales promotion, retail, digital Judi Patton £22K-£55K, London (Central), London (Greater) / London (East), London (Greater) / London (North), London (Gr...
- Client Partner The Great & The Good £80000 - £90000 per annum + significant benefits, London