International BusinessNews Corp restructures broadcast businesses in Asia
Media company News Corporation today said it would restructure its Asian broadcast businesses into three units — STAR India, STAR Greater China and Fox International Channels (FIC).
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The changes are designed to support continued growth of each unit and result in a reduction in the size of its regional operations in Hong Kong, a press release issued here said.
Fox International Channels will combine the English-language channels previously managed by STAR with the National Geographic and Fox brands for distribution in Asia, the release added.
"We are now re-shaping a big, regional organisation into three highly-focused business units, each of which will be intensely competitive in its target marketplace," News Corporation"s Chairman and Chief Executive (Europe and Asia) James Murdoch said.
"While it was once a natural to have a larger, regional headquarters, the company has now reached a scale in its key local markets where we are ready to empower the teams on the ground and move a number of functions to be closer to viewers," Murdoch added.
News Corporation has also announced establishing an office in Hong Kong.
The new office, comprising a small group of executives from the current STAR team, will be responsible for supporting News Corporation"s interests in the region and managing joint ventures including ESPN STAR Sports.
It will carry out business development, legal, Government affairs and corporate communications functions, with each function reporting directly to the corresponding functional heads in London, the release said.
As a part of the restructure, Paul Aiello, CEO of STAR, will leave the company end-December.
STAR India will manage sales and distribution of News Corporation channels in India, a total of 19 channels in eight languages.
STAR India"s CEO, Uday Shankar, will now report directly to Murdoch. In addition, he will oversee STAR"s sales and distribution offices in the Middle-East, the UK and the US, the release said.