Raju Narisetti Named Senior Vice President & Deputy Head of Strategy for New News Corporation
Raju Narisetti Named Senior Vice President & Deputy Head of Strategyfor New News Corporation
NEW YORK--(BUSINESS WIRE)-- 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.
KEYWORDS: Australia United Kingdom United States Europe North America Australia/Oceania New York Italy
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