News Corp. Tabs Chase Carey As Deputy Chair, President & COO
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Chase Carey Named News Corp.
Deputy Chair, President & COO |
DirecTV President & CEO Chase Carey yesterday was named News Corp. Deputy Chair, President & COO, and he will join the company’s BOD on July 1, according to Cynthia Littleton of DAILY VARIETY. Carey fills the “management void” left by News Corp. President & COO Peter Chernin, who is resigning effective June 30. Carey’s appointment “came as a surprise, but the jolt was mitigated by the fact the exec … is a well-known commodity within News Corp.,” as he spent 15 years working for the company, “mostly in the conglom’s TV operations.” The move is a sign that News Corp. Chair & CEO Rupert Murdoch “appears to be in a mood to significantly reshape his management hierarchy.” Some “big questions raised by Carey’s move is how he managed to extricate himself from an employment contract from DirecTV that ran through the end of next year -- and what Murdoch gave DirecTV parent Liberty Media in exchange” (DAILY VARIETY, 6/4). In N.Y., Holly Sanders Ware notes Carey “will oversee News Corp.’s sprawling media business, including the film studio, television stations, cable networks and newspapers” (N.Y. POST, 6/4). News Corp. did not provide terms of Carey’s employment contract, but a source said that it “runs for five years.” The HOLLYWOOD REPORTER’s Georg Szalai notes the hiring of Carey suggests Murdoch wants to give his son, News Corp. Chair & CEO for Europe and Asia James Murdoch, “more time to gain experience by running an important part of the conglomerate and give the company time to evaluate a potential promotion later.” A source said, “I think Chase is coming in to bridge the time gap between Rupert and James” (HOLLYWOOD REPORTER, 6/4).
OUT AT THE DISH: In L.A., Chmielewski & James note Carey’s appointment “leaves a leadership gap at DirecTV.” Carey, who oversaw the "launch and growth of Fox Sports" during his previous stint with News Corp., “demonstrated operational acumen” as President & CEO of DirecTV, and the company earlier this year “renegotiated its NFL rights deal.” The DirecTV BOD has installed General Counsel Larry Hunter as its “interim head until a successor is named” (L.A. TIMES, 6/4). The WALL STREET JOURNAL's Shira Ovide notes Carey's departure "comes at an important juncture at DirecTV," as Liberty recently "disclosed plans to put its DirecTV stake and other assets into a separate public company" (WALL STREET JOURNAL, 6/4).
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