Raju Narisetti Named Senior Vice President & Deputy Head of Strategy for New News Corporation
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced
the appointment of Raju Narisetti as Senior Vice President and Deputy
Head of Strategy for the New News Corporation, the proposed global
publishing entity to be formed as part of the Company’s intended
separation into two independent, publicly traded companies. Mr.
Narisetti is currently a Deputy Managing Editor with The Wall Street
Journal and Managing Editor of The Wall Street Journal Digital Network.
Mr. Narisetti will begin his new role on March 11 and will report to
Anoushka Healy, who was recently named Chief Strategy Officer for the
New News Corporation. Mr. Narisetti will work with Ms. Healy to oversee
and implement new projects while helping fashion the strategic direction
of the new company, which comprises leading print and digital publishing
businesses, an education division and other Australian assets.
He will be involved in new digital projects and continue to guide the
digital growth of the existing companies in the new News Corporation as
they seek to further expand the distribution of their content across
digital products and platforms.
"Raju's experiences around the world and across platforms make him the
ideal person to drive our strategy during a period of increasingly
intense globalization and digitization,” said Robert Thomson, Chief
Executive Officer of the New News Corporation. “He knows how to
transform newsrooms, to start a startup and to finish a project - all of
these rare qualities will be crucial for the success of the new News."
About Mr. Narisetti
Mr. Narisetti has served as a Deputy Managing Editor of The Wall Street
Journal and Managing Editor of The Wall Street Journal Digital Network
since February 2012. In this role, he heads editorial teams and content
strategy for The Wall Street Journal Digital Network, which includes
WSJ.com, MarketWatch.com, WSJ Live video platforms, and Wall Street
Journal and MarketWatch Radio Networks.
Previously, Mr. Narisetti served as Managing Editor of Washington Post
Co. since January 2009, overseeing digital content, news products and
new businesses, as well as its editing, design, photo, video, engagement
and social media teams. Prior to joining the Post, Mr. Narisetti served
as Founding Editor of India's Mint newspaper, which has an exclusive
agreement to publish Journal-branded content in India and is now India's
second-largest business newspaper by circulation.
During his previous tenure with the Journal, starting as a Summer Intern
in 1991, Mr. Narisetti held multiple roles, most recently as a Deputy
Managing Editor as well as Editor of The Wall Street Journal Europe in
2006, and led the re-launch of the European and Asian editions of the
Journal.
News Corporation Separation
On June 28, 2012, News Corporation announced that it intends to pursue
the separation of its publishing and its media and entertainment
businesses into two distinct publicly traded companies. The global
publishing company that would be created through the proposed
transaction would consist of the Company’s publishing businesses, its
education division and other Australian assets. The global media and
entertainment company would consist of the Company’s cable and
television assets, filmed entertainment, and direct satellite
broadcasting businesses. Following the separation, each company would
maintain two classes of common stock: Class A Common and Class B Common
Voting Shares. The separation is expected to be completed in
approximately one year from the date of announcement. In addition to
final approval from the Board of Directors and stockholder approval of
certain amendments to the Company’s Restated Certificate of
Incorporation, the completion of the separation will be subject to
receipt of regulatory approvals, opinions from tax counsel and favorable
rulings from certain tax jurisdictions regarding the tax-free nature of
the transaction to the Company and to its stockholders, further due
diligence as appropriate, the execution of certain agreements relating
to the distribution, and the filing and effectiveness of appropriate
filings with the SEC. On December 21, 2012, New Newscorp LLC filed an
initial Form 10 registration statement and News Corporation filed a
preliminary proxy statement with the Securities and Exchange Commission
in connection with the separation. The Company has also applied for
certain regulatory approvals and tax rulings required to enable the
separation to be completed as described. There can be no assurances
given that the separation of the Company's businesses as described will
occur.
About News Corporation
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets
as of December 31, 2012 of approximately US$63 billion and total annual
revenues of approximately US$34 billion. News Corporation is a
diversified global media company with operations in six industry
segments: cable network programming; filmed entertainment; television;
direct broadcast satellite television; publishing; and other. The
activities of News Corporation are conducted principally in the United
States, Continental Europe, the United Kingdom, Australia, Asia and
Latin America.