Serious restructuring within Rupert Murdoch’s media conglomerate News Corp. will occur in the coming days according to a series of revelations made already this week.
Not only has Murdoch, the company’s CEO, announced a major split within News Corp., but a top player involved in his media empire will exit from one division while another project is abandoned completely.
On Monday, News Corp. revealed that not its iPad news application, The Daily, will be aborted in the coming days. In a separate announcement, Tom Mockridge, head of the company’s News International division, revealed he is leaving to “pursue outside opportunities.”
Additional, Murdoch has announced that the entities that make up his international media group will be split into two separate divisions by way of a memo sent this week.
“I have great news to report regarding the proposed separation of our company into two global leaders,” Murdoch wrote his employees. “In keeping with our rich, 60-year heritage of bringing news to the world, the publishing entity will retain the name News Corporation. The media and entertainment company, which has excelled at engaging, entertaining and enlightening people around the globe for almost three decades, will be named Fox Group.”
Neither the closing of The Daily nor the departure of Mockridge is referenced in Murdoch’s memo.