News Corp Decided to Split Into Two, Indian to be the CFO of the Proposed Publishing Company

News Corp on 3 December 2012 announced restructuring of the top management of the company. The company decided that the top management would split into the two publically traded firms. Consequently, there would be a new head for the British newspaper arm as well as Indian-origin executive who would be heading the publishing business' finances.

News Corp declared that Dow Jones editor-in-chief as well as the managing editor of The Wall Street Journal, Robert Thomson would be now the CEO of proposed publishing company. As per his new role, Thomson would be confronting the ongoing scandal in UK News Corp which shut down the News of the World newspaper back in July 2011 following the phone hacking scandal. The publishing company nevertheless would hold on to the name of News Corporation. On the other hand, the entertainment and media company will be named as Fox Group.

The chairman and CEO of News Corp, Rupert Murdoch will now be the chairman of newly formed News Corporation as well as the CEO and chairman of the Fox Group. Murdoch also announced additionally that Bedi Ajay Singh, who had recently also been at the designation of President, Finance and Administration and Chief Financial Officer for MGM Studios would be given the role of Chief Financial Officer at the new publishing company. Bedi Ajay Singh was the member of UK Institute of CAs and had also served as the CFO at SONY Pictures and Novartis Pharma.