News Corp. announced details Monday describing how it will split the company, while naming Robert Thomson the new CEO of its publishing division, while promoting Gerard Baker to lead Dow Jones and become managing editor of The Wall Street Journal.
The company announces in the press release:
In keeping with the company’s 60-year heritage of bringing news to the world, the publishing entity will retain the name News Corporation. The media and entertainment company, which began in earnest when Chairman and CEO Rupert Murdoch acquired 20th Century Fox and launched the Fox Network more than 25 years ago, will be named Fox Group.
As previously announced, Rupert Murdoch will serve as Chairman of the new News Corporation and Chairman and CEO of Fox Group. Chase Carey will serve as President and Chief Operating Officer of Fox Group, with James Murdoch continuing in his capacity as Deputy Chief Operating Officer.
As part of its realignment, News Corp. will fold iPad publication, The Daily, it says. "Technology and other assets from The Daily, including some staff, will be folded into The Post," and the publication's editor-in-chief, Jesse Angelo, will become publisher of the New York Post, where he has been executive editor. In the release, Rupert Murdoch said: