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News Corp : News Corporation's Chief Digital Officer Jonathan Miller to Leave Post

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08/23/2012 | 10:48pm CEST

NEW YORK - August 23, 2012 - News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced that Jonathan Miller, the Company's Chief Digital Officer since 2009, will leave his post at the end of September as the Company moves towards its proposed separation into two distinct companies.

Mr. Miller will serve as an outside advisor to News Corporation on digital issues through fall 2013.

During his tenure, Mr. Miller revamped News Corporation's digital strategy as the Company transitioned away from standalone owned-and-operated web properties and refocused on digital content distribution and the monetization of its existing brands on emerging platforms. He was instrumental in strengthening News Corporation's relationships within the technology industry and also oversaw a number of key investments in the U.S. and abroad, most recently stakes taken in Roku and Bona Film Group. Mr. Miller also represented News Corporation on the Hulu Board of Directors.

Rupert Murdoch, Chairman and CEO of News Corporation, commented: "Jon Miller is a visionary in the digital media industry, and his commitment to News Corporation over the last three years has driven us to truly evolve the way millions of people use new platforms to consume news and entertainment. As we prepare for our proposed Company separation, I respect Jon's desire to return to an operational, entrepreneurial role with a standalone company. He will be missed and I can't thank him enough for his efforts and many valued contributions."

Chase Carey, President and COO of News Corporation, commented: "Jon is a seasoned technology veteran and we've benefited enormously from his insights and deep relationships in Silicon Valley and beyond. We wish him the best of luck on his new ventures."

Jonathan Miller commented: "This has been a fantastic three years and we've made real progress across a number of fronts. I am grateful to Chase, Rupert and James for the opportunity to work across such a great canvas of businesses at a time of real industry change and transformation. While my time spent has been productive, it feels like the right time to exit. I look forward to pursuing new ventures that will lead me back into an operational role."

About News Corporation
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of June 30, 2012 of approximately US$57 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.

Dan Berger

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Financials ($)
Sales 2017 29 072 M
EBIT 2017 6 533 M
Net income 2017 3 379 M
Debt 2017 13 600 M
Yield 2017 1,42%
P/E ratio 2017 14,36
P/E ratio 2018 12,54
EV / Sales 2017 2,16x
EV / Sales 2018 2,05x
Capitalization 49 181 M
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Average target price 31,6 $
Spread / Average Target 20%
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James Rupert Murdoch Chief Executive Officer & Director
Lachlan Keith Murdoch Executive Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
John P. Nallen Chief Financial Officer & Senior Executive VP
Viet D. Dinh Independent Non-Executive Director
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