Robert Thomson will be the new managing editor of the Wall Street Journal according to a newspaper report late Tuesday. He is the substitute of Marcus Brauchli who declared last month that he was resigning its position as managing editor of the financial paper.

According to the report, Thomson will also be editor in chief of Dow Jones, owned by News Corp.

Shares of News Corp. rose 0.74 percent to $19.69 on the New York Stock Exchange in after hours electronic trading Tuesday.