August 22, 2009 |
The Dow Jones industrial average might be up for sale by its owner, News Corp., a move that conceivably could result in a name change for the 125-year-old stock market barometer. The Wall Street Journal, citing unnamed sources, reported Friday that News Corp. was considering selling its stock index business and had reached out to potential buyers. News Corp., which is controlled by Rupert Murdoch, declined to comment. Dow Jones & Co., which News Corp. acquired in 2007, offers thousands of stock indexes that are used as benchmarks by investors and licensed for use by mutual funds and other investment products.
March 28, 2009 |
Former America Online Chief Executive Jonathan Miller is expected to join News Corp. as head of global digital strategy, according to well-placed sources. Working with the heads of News Corp.'s business units to spur digital initiatives across the company, Miller would be filling a void soon to be left by President and Chief Operating Officer Peter Chernin, who is leaving in June. Miller is expected to report directly to Chairman Rupert Murdoch. Miller cannot join News Corp.
March 14, 2009 |
Like him or loathe him, Rupert Murdoch is the last of the great media swashbucklers, a throwback to the pirates, cutthroats and visionaries who used to run the business before it was engulfed and devoured by giant risk-averse corporate behemoths. The earthquake that rocked News Corp. this week was a typical Murdoch seismic event. As one of his top executives once told me: "Rupert is a gambler. He tolerates noble failure more than complacency."
February 25, 2009 |
Media Mogul Rupert Murdoch has a knack for corporate chess. Now he's contemplating how to advance his pieces. Murdoch plans to use the exit of his longtime lieutenant, Peter Chernin, to assume more direct involvement in operations and shuffle management at News Corp., which is expected to trigger the departure of some ranking executives, according to people familiar with the matter who asked not to be identified because of its sensitivity. News Corp.
February 13, 2009 |
Rupert Murdoch has returned from Australia, where he celebrated his mother's 100th birthday. Now the mogul faces another important date. The contract for Murdoch's chief lieutenant, News Corp. President Peter Chernin, expires June 30, and the two executives have been locked in negotiations for months. They haven't struck a deal, and concern is mounting inside the company, and on Wall Street, that Chernin will not renew.
November 6, 2008 |
News Corp. said its first-quarter net income fell 30% from a year earlier because of a large write-down and a drop in ad revenue at its TV stations. Net income at the company run by billionaire Rupert Murdoch fell to $515 million, or 20 cents a share. A year earlier, net income was $732 million, or 23 cents. Revenue rose 6.3% to $7.5 billion. Operating income fell 9% to $953 million, compared with $1.1 billion reported a year earlier. Analysts surveyed by Thomson Reuters expected first-quarter earnings per share to fall 2% to 23 cents on revenue of $7.7 billion, 8% higher than a year earlier.