News Corp has extended Chief Executive Robert Thomson’s contract through June 2030, signaling continued confidence in his leadership as the company leans further into digital expansion, subscription growth, and intellectual property licensing.
Since assuming the CEO role more than a decade ago, Thomson has overseen a sweeping realignment of the company’s media portfolio, which includes The Wall Street Journal, HarperCollins Publishers, and Virgin Radio UK. Under his tenure, News Corp has diversified revenue streams by growing digital subscriptions, licensing deals, and recurring income while reducing reliance on cyclical advertising markets.
As of fiscal 2024, digital revenues account for roughly half of total revenue, up from just 20% in 2014. Dow Jones – now the company’s most profitable segment following a 2020 restructuring – has doubled its profitability during the period.
News Corp also completed the sale of Foxtel to DAZN earlier this year, improving its overall asset mix. Credit rating agencies have awarded the company Investment Grade status, citing a stronger balance sheet.
Thomson’s leadership has also extended into intellectual property negotiations at a time when publishers globally face mounting pressure from technology platforms. News Corp has secured several landmark content licensing deals, including a recent agreement with OpenAI. The terms of that deal, while undisclosed, are seen as part of a broader push for media companies to monetize AI-driven uses of journalism.
In publishing, News Corp’s HarperCollins division has benefited from growth in audiobook sales, supported in part by its partnership with Spotify.
“Robert has been instrumental in News Corp’s growth and transformation, and his vision and leadership are extremely important as the company continues to navigate this era of rapid change,” said News Corp Chair Lachlan Murdoch. “Robert has created exceptional shareholder value, orchestrated a meaningful transformation of our asset base, and made strategic investments in growth drivers like Dow Jones, Digital Real Estate Services, and Book Publishing. He is a crucial voice in the fight for publishers and journalists in the digital age, and a strong advocate for intellectual property rights. I look forward to his continued leadership.”
