The poorly kept secret is now officially out of the bag. News Corporation Chairman and CEO Rupert Murdoch announced the appointment of Chase Carey to Deputy Chairman, President and Chief Operating Officer, effective July 1st. He will also take a seat on the Board of Directors as Peter Chernin ends his long run as Murdoch’s right hand man.
The appointment marks a return to News Corporation for Carey, who spent 15 years as a senior executive at the company before becoming CEO of The DirecTV Group in 2003. News Corp. has since sold its large stake in DirecTV to Liberty Media.
“Chase has been one of my closest advisors and friends for years and I am delighted we’ll once again be working together across our businesses as we face the challenges and great opportunities ahead,” said Murdoch.
“Under Rupert’s leadership, News Corporation has always been the boldest, most innovative media company in the world. With its leading franchises, News Corporation’s growth opportunities are second to none and I am thrilled to be returning at such a transformative time for our businesses across the globe,” Carey said.
Prior to DirecTV, Carey was co-COO of News Corporation from 1996 to 2002, as well as co-COO of the Fox Entertainment Group from 1998 until 2002. He served on Board of Directors of News Corporation from 1996 until 2007 and on the Board of the Fox Entertainment Group from 1992 until 2002.
Among key initiatives he led were the launch and growth of Fox Sports, the expansion of the Fox Television Stations group from seven stations to 35 stations (subsequently reduced to 27), the emergence of Fox cable channels such as Fox News Channel, FX and the National Geographic Channel, and the building of satellite platforms in Europe, Asia and Latin America.
DirecTV announced that its board had accepted Carey’s resignation and formed a committee of directors tasked with searching for a new President and CEO. In the interim, Larry Hunter will act as Chief Executive Officer in addition to his current responsibilities of Executive Vice President of Legal, HR, and Administration.