Rupert Murdoch's News Corp is restructuring its Fox television, film and Internet businesses it said on Thursday, in a move that will see the departure of one of its top executives.
News Corp does not anticipate layoffs as a result of the restructuring, according to a source who requested anonymity because that source was not authorized to share that detail. It comes after the company said its No. 2 executive, Chief Operating Officer Peter Chernin, would leave the company in June.
Peter Liguori will step down as chairman of entertainment at Fox Broadcasting, News Corp said. Peter Rice, president of movie studio Fox Searchlight, will take over and report to Tony Vinciquerra, the company said.
Vinciquerra runs the cable networks business, Fox International Channels and the business aspects of Fox Broadcasting.
News Corp will combine Fox's creative production divisions in a single unit that will report to Jim Gianopulos and Tom Rothman, co-chairmen of Fox Filmed Entertainment. The group will include Twentieth Century Fox Television and Fox Television Studios.
Twentieth Century Fox Television Chairmen Gary Newman and Dana Walden will report to Gianopulos and Rothman.
Roger Ailes, chairman and chief executive of the Fox News Channel and Fox Business Network, will continue in his position. Peter Levinsohn, who runs Fox Interactive Media, which includes online social network MySpace, also will stay in his job, according to a memo Murdoch sent to employees.
News Corp shares closed 14 cents higher at $5.85.
(Editing by Andre Grenon)