off the record
As News Corp. shores up its print and television properties leading up to the company’s highly publicized split, its scrappy and beloved internal newswire Newscore has quietly gone dark, with at least 20 positions eliminated—and possibly more than twice that if cuts hit bureaus in London and Sydney.
Launched in 2009, Newscore collected and redistributed the news stories from News Corp.’s reporters in the U.S., U.K. and Australia, while racing rivals AP and Reuters on breaking news. Newscore CEO John Moody, a former Fox News executive, was reportedly inspired by a moment of synergy between Fox News and The Australian in covering Heath Ledger’s death.
News Corp. chairman Rupert Murdoch confirmed reports that he will divide the corporation into two companies—one for television and entertainment, one for newspapers and publishing—in a message to employees today.
The lengthy memo, obtained by the The New York Times, touches on everything from the First Amendment to the iPad but does not mention the ongoing phone-hacking and bribery scandal in the UK. Some think the restructuring, on which they’ll reportedly be advised by Goldman Sachs, is an attempt to protect top management from this or future messes.
Today Bloomberg Businessweek‘s Greg Farrell published a remarkable piece about power shifts among News Corp.’s top executives in the early days of the phone hacking scandal. He also reconstructs a fateful dinner party chez Murdoch, which we’ve mined for etiquette tips, below, should you ever secure an invite.
Q: When should I arrive at Rupert Murdoch’s dinner party?
As Rupert Murdoch stands in danger of everything from his news empire crumbling further into scandal or being pied, the names of potential successors to the CEO seat are already being floated through the rumor mill. One that keeps coming up is an obvious pick: Charles “Chase” Carey, President, COO, and Deputy Chairman of News Corp. And he is a Budweiser man.