News Corp's M&E co to be called Fox Group after split

News Corporation has decided to name its media and entertainment company as Fox Group while the publishing entity will retain the name News Corporation following the company's intended separation into two independent, publicly traded companies.

News Corp has also appointed Chase Carey as President and Chief Operating Officer of Fox Group, with James Murdoch continuing in his capacity as Deputy Chief Operating Officer.

The company confirmed that Dow Jones Editor-in-Chief and Managing Editor of The Wall Street Journal Robert Thomson will be the CEO of the new proposed publishing entity.

As part of the restructuring, Tom Mockridge, who has served as Chief Executive Officer of News International since July 2011, will leave the company at the end of the year to pursue outside opportunities. Rupert Murdoch will serve as Chairman of the new News Corporation and Chairman and CEO of Fox Group.

Under their collective leadership, Fox Group will continue to strengthen its creative content businesses and distribution assets, including enhancing its sports portfolio through key investments in Asia, Europe and Latin America.

"This is an incredibly exciting time, for me personally, and for our companies' ambitious futures," said Rupert Murdoch. "The challenges we face in the publishing and media industries are great, but the opportunities are greater."

Murdoch continued, "Under Robert's leadership at News Corporation, we will build on our traditional mission to inform, entertain and enhance the lives of readers and viewers around the world, and relentlessly drive global growth by promoting excellence and investing in our businesses.

"At Fox Group, what began with the acquisition of a modest film studio over 25 years ago has grown into one of the world's most successful media companies of all times, defying conventional wisdom at every turn by pursuing excellence in creativity and innovation. Fox Group is perfectly positioned to deliver even more inspiring stories that engage audiences through film, television, sports and digital platforms, driving not only financial results but a lasting imprint on the millions of people who enjoy our various services, in every corner of the world."