MUMBAI: News Corporation has decided to name its media and entertainment company as Fox Group while the publishing entity will retain the name News Corporation following the company?s intended separation into two independent, publicly traded companies.

News Corp has also appointed Chase Carey as President and Chief Operating Officer of Fox Group, with James Murdoch continuing in his capacity as Deputy Chief Operating Officer.

The company confirmed that Dow Jones Editor-in-Chief and Managing Editor of The Wall Street Journal Robert Thomson will be the CEO of the new proposed publishing entity.

As part of the restructuring, Tom Mockridge, who has served as Chief Executive Officer of News International since July 2011, will leave the company at the end of the year to pursue outside opportunities. Rupert Murdoch will serve as Chairman of the new News Corporation and Chairman and CEO of Fox Group.

Under their collective leadership, Fox Group will continue to strengthen its creative content businesses and distribution assets, including enhancing its sports portfolio through key investments in Asia, Europe and Latin America.

"This is an incredibly exciting time, for me personally, and for our companies? ambitious futures," said Rupert Murdoch. "The challenges we face in the publishing and media industries are great, but the opportunities are greater."

Murdoch continued, "Under Robert?s leadership at News Corporation, we will build on our traditional mission to inform, entertain and enhance the lives of readers and viewers around the world, and relentlessly drive global growth by promoting excellence and investing in our businesses.

"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. 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."

Robert Thomson, who has served as Editor-in-Chief of Dow Jones and Managing Editor of The Wall Street Journal since 2008, will begin his work as incoming CEO of the publishing company on 1 January. Thomson commented, "Rupert has been the driving force behind the renaissance of The Wall Street Journal and Dow Jones - which have enjoyed readership and revenue growth in a complicated and evolving media market -- and we intend to lead a broader revenue renaissance for quality content. I am looking forward to working with him and our colleagues around the world to use the company?s esteemed past as a platform for the future. The global value of content is growing as the means of digital distribution multiply, providing us with a remarkable opportunity to profit from our employees? ingenuity and integrity. We have a collection of extremely successful companies, and our goal is to make the new News Corp far more than the sum of its distinguished
parts."

Murdoch and Thomson have announced the following key executives joining the publishing Company:

• Bedi Ajay Singh, who most recently served as President, Finance and Administration & CFO for MGM Studios, will assume the role of Chief Financial Officer. Previously, Singh served as CFO at Gemstar-TV Guide, Novartis Pharmaceuticals and Sony Pictures Entertainment. Prior to 2000, he held a number of positions at News Corporation, including senior finance roles at News International and 20th Century Fox. Singh is a Fellow of the UK Institute of Chartered Accountants and started his business career with Arthur Andersen in London.
• Paul Cheesbrough, currently News Corporation?s Chief Technology Officer, will serve in the same capacity for the new publishing company. Cheesbrough was previously the Chief Information Officer at News International, where he was responsible for the organization?s technology strategy, delivery, transformation programs and digital products. Before joining News International, Cheesbrough served as Chief Information Officer at the Telegraph Media Group, and prior to that was Controller of Digital Media for the BBC.
• Keisha Smith will serve as director of Human Relations. She previously served in various management roles at Morgan Stanley, most recently as the Global Head of Recruiting and Chief Diversity Officer for the Firm. Prior to Morgan Stanley, Smith worked at the Financial Times where she led the staffing initiative for the launch of the FT.com venture.

In addition, Gerson Zweifach, currently General Counsel of News Corporation, will serve in a dual role as both General Counsel of Fox Group, and, for a period of one year following the separation, also of the new News Corporation.

News Corporation also announced that Gerard Baker, currently Deputy Editor-in-Chief of The Wall Street Journal, will succeed Robert Thomson as Editor-in-Chief of Dow Jones and Managing Editor of The Wall Street Journal, effective 1 January. Following a thorough review and interviews with news staff and Company executives, Baker?s appointment was unanimously endorsed by the Dow Jones Special Committee.

News Corporation also announced that effective immediately, Jesse Angelo, the founding Editor-in-Chief of The Daily and long-time Executive Editor of The New York Post, will assume the role of Publisher of The New York Post.

As part of a digital restructuring initiative, the company will cease standalone publication of The Daily iPad app on 15 December, though the brand will live on in other channels.

Technology and other assets from The Daily, including some staff, will be folded into The Post. Paul Carlucci, who has served as Publisher of The New York Post since 2005 will focus exclusively on his role as Chairman of News America Marketing where he continues to generate important profits.

Greg Clayman, Publisher of The Daily, will oversee the Company?s global digital strategy, new digital investments and distribution partnerships, working with CTO Paul Cheesbrough.

As previously announced, Tom Mockridge, who has served as CEO of News International since July 2011, will leave the Company at the end of the year to pursue other opportunities. Mockridge will be replaced by Mike Darcey, who has served as Chief Operating Officer of BSkyB since 2006.

News Corp had on 28 June announced that it intends to pursue the separation of its publishing and its media and entertainment businesses into two distinct publicly traded companies. The global publishing company that would be created through the proposed transaction would consist of the Company?s publishing businesses, its education division and other Australian assets. The global media and entertainment company would consist of the Company?s cable and television assets, filmed entertainment, and direct satellite broadcasting businesses.

The global publishing company that would be created through the proposed transaction would consist of the Company?s current publishing businesses, as well as its education division. Following the separation, each company would maintain two classes of common stock:

Class A Common and Class B Common Voting Shares. The separation is expected to be completed in approximately one year.