News Corp broadcast division to trade under Fox Group brand
Media giant News Corp revealed the details of its split into two independent, public companies, with the media and entertainment (M&E) divisions to be branded the Fox Group.
The company said that the new M&E brand is totally fitting given that News Corp began in earnest when chairman and CEO Rupert Murdoch acquired 20th Century Fox and launched the Fox Network more than 25 years ago.
Murdoch will serve as Chairman of the new News Corp and Chairman and CEO of Fox Group.Current News Corp COO Chase Carey, regarded as the most likely long-term successor to Murdoch, will serve as President and COO of Fox Group, with James Murdoch, recently criticised in the Leveson enquiry for his management as head of News International, continuing in his capacity as Deputy COO.
The new management team have assured their investors that under their collective leadership, Fox Group will “continue to strengthen its creative content businesses and distribution assets”. This will include enhancing the key sports portfolio through key investments in Asia, Europe and Latin America.