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News Corp. forms new editorial unit

NEWS Corp. said yesterday it is forming a new portal that will allow the sharing of content between its journalism properties, which include The Wall Street Journal, The Times in the UK and Fox News.

News Corp. said Executive Vice President John Moody will direct the new portal, and has been tasked with "investigating the company's worldwide contracts and reliance on global news services."

The media company added that Moody will collaborate with news chiefs across its properties to improve news gathering efficiencies and identify areas for cost cutting.

News Corp. made the announcement in a statement naming Michael Clemente to succeed Moody in overseeing editorial content at Fox News immediately.

News shares fell 24 cents, or 2.8 percent, to close at US$8.39 on yesterday.


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