Wednesday, April 15, 2009

News Corp will share news across its properties

NEW YORK (Reuters) – News Corp said on Tuesday that it has formed a new unit to share journalism across all its properties, including The Wall Street Journal, New York Post, Fox News and The Times of London.

Rupert Murdoch's international media conglomerate said that John Moody, executive vice president of news editorial at Fox News, will run the unit and report to Murdoch.

Michael Clemente, who joined Fox this year after 27 years at Walt Disney Co's ABC News, will report to Fox Chief Executive Roger Ailes.

News Corp did not offer examples of how the news-sharing unit will operate.

Moody will work with news chiefs at News Corp's properties to improve News Corp's newsgathering efficiency and find ways to cut costs, News Corp said in a statement. Moody said it was too early to provide examples of how this will work.

News Corp, which owns many other properties including the MySpace online social network, book publisher HarperCollins and satellite television provider Sky Italia, has been trying to cut costs as an economic recession crimps ad spending.

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