NEW YORK (AP) -- News Corp. said Monday that its new publishing company will keep the News Corp. name, while its separate media and entertainment company will be renamed Fox Group.
The conglomerate announced plans this summer to split into two public companies, one for its newspaper and book publishing business and the other for its fast-growing movie and TV operations. Rupert Murdoch will serve as chairman of the new News Corp. and chairman and CEO of Fox Group.
The company named Wall Street Journal managing editor Robert Thomson as CEO of the new News Corp. He's set to begin his work on Jan. 1.
As part of the changes, News Corp. said it will cease publication of The Daily, its iPad news application, on Dec. 15.
"From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation," Murdoch said in a statement. "Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term."
News Corp. had hoped The Daily would lure both paying subscribers and advertisers to a digital newspaper that included news, gossip and opinion. The publication's intended audience included people who don't read traditional newspapers or watch TV news while still consuming media through other means. But The Daily never caught on. It had just 100,000 subscribers as of July, when News Corp. said it was laying off about one-third of the publication's 170-person staff.
Friday, May 24 2013 9:34 PM EDT2013-05-25 01:34:31 GMT
Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
Netflix is hoping this weekend's release of the resurrected TV series "Arrested Development" will lock up more subscribers to its Internet video service.
Netflix is hoping this weekend's release of the resurrected TV series "Arrested Development" will draw more subscribers to its Internet video service.
Friday, May 24 2013 11:24 AM EDT2013-05-24 15:24:03 GMT
The music was pumping at Jenkinson's Boardwalk in Point Pleasant Beach on Friday morning.
The music was pumping at Jenkinson's Boardwalk in Point Pleasant Beach on Friday morning. Singer and heartthrob Ed Sheeran performed to a packed bar. Singer and pianist Sara Bareilles later took the mic all before 10 a.m.
Working moms with young children may be always strapped for time, energy and money. But Gwyneth Paltrow has a solution that worked for her — and might work for you: modeling.
Working moms with young children may be always strapped for time, energy and money. But Gwyneth Paltrow has a solution that worked for her — and might work for you: modeling.
Thursday, May 23 2013 9:05 AM EDT2013-05-23 13:05:21 GMT
Hollywood superstar Brad Pitt made a trip to the birthplace of Frank Sinatra on Wednesday night to promote his new movie, "World War Z."
Hollywood superstar Brad Pitt made a trip to the birthplace of Frank Sinatra on Wednesday night to promote his new movie, "World War Z." Pitt stunned the crowd at the Clearview Cinemas when he walked in just before the start of the special screening.
President Barack Obama is showing singer-songwriter Carole King that she has friends at the White House.
President Barack Obama, saluting Carole King's five decades as an award-winning singer-songwriter, said Wednesday that music often is a place where people seek comfort and inspiration during trying times.
Friday, May 24 2013 10:44 PM EDT2013-05-25 02:44:03 GMT
The unofficial start of summer is being met with not-so-perfect beach weather. Many beach communities had been hoping for good weather this Memorial Day weekend following the destruction caused by Superstorm Sandy.
The unofficial start of summer is being met with not-so-perfect beach weather. Many beach communities had been hoping for good weather this Memorial Day weekend following the destruction caused by superstorm Sandy. The Fox 5 weather team is calling for sunny skies on Sunday and Monday.
Friday, May 24 2013 9:34 PM EDT2013-05-25 01:34:31 GMT
Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
Friday, May 24 2013 9:15 PM EDT2013-05-25 01:15:35 GMT
When workers installed one of the much-heralded bike-sharing stations on West 22nd Street near 10th Avenue, they put it right in front of the brownstones.
When workers installed one of the much-heralded bike-sharing stations on West 22nd Street near 10th Avenue, they put it right in front of the brownstones, impacting the entrances for homeowners and tenants.
Friday, May 24 2013 8:10 PM EDT2013-05-25 00:10:09 GMT
AP photo
Resorts held a grand opening Thursday for Margaritaville, the $35 million restaurant, bar, and gambling complex that's part of a $70 million expansion and renovation.
Resorts held a grand opening Thursday for Margaritaville, the $35 million restaurant, bar, and gambling complex that's part of a $70 million expansion and renovation.
Friday, May 24 2013 6:09 PM EDT2013-05-24 22:09:59 GMT
New York State has 17,000 highway bridges. There are some bad ones. The Tappan Zee Bridge, for example, is set to be replaced because of aging infrastructure.
New York State has 17,000 highway bridges. There are some bad ones. The Tappan Zee Bridge, for example, is set to be replaced because of aging infrastructure.
Friday, May 24 2013 5:33 PM EDT2013-05-24 21:33:47 GMT
New Jersey Transit bus riders will soon have a new way to get across the Hudson River: by boat. The agency is partnering with New York Waterways, which will provide ferry service to customers. The
New Jersey Transit bus riders will soon have a new way to get across the Hudson River: by boat. The agency is partnering with New York Waterways, which will provide ferry service to customers. The
