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THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
News Corp. Reorganizes Entertainment, Sports TV Executives
News Corp. (NWS, NWSA) said it is restructuring its entertainment and sports television operations to "better align" the media giant's creative leadership.
The move comes as the television business continues to deal with sliding advertising revenue and an ever-increasing battle to attract viewership.
Peter Rice, entertainment chairman of Fox Networks Group, now will oversee FX Networks as well as Fox Broadcasting Co. He became entertainment chief last March amid a shakeup that ultimately led to Peter Liguori's departure. Rice previously was head of the Fox Searchlight production house.
Meanwhile, Rich Battista, president of Fox National Cable Networks, is in discussions about a possible new role with the company. News Corp. President and Chief Operating Officer Chase Carey called Battista "a valued member of this company" and said "we hope to find a new opportunity for him in the near term." Carey added the moves are "not targeted at short-term change."
David Hill, chairman and chief executive of Fox Sports, will add a host of regional and national sports cable networks to his purview, including Fox Soccer Channel and Speed.
Both Rice and Hill will continue to report to Fox Networks Chairman and CEO Tony Vinciquerra.
News Corp.'s Class B shares recently traded at $15.73, down 1%. The stock has climbed 71% in the past year.
News Corp. owns Dow Jones & Co., publisher of this newswire.