Longtime President Leaves News Corp. (Murdoch's Company)

[RamboLiberal]

Source: NY Times

Peter F. Chernin, the longtime president and No. 2 executive at the News Corporation, the media giant controlled by Rupert Murdoch, will leave the company after failing to get a new contract, according to a person briefed on the matter who declined to speak publicly because the company had not made a formal announcement.

Mr. Chernin,57, has long been highly regarded on Wall Street and in Hollywood, and his departure is expected to be seen as a serious blow to New Corporation among investors and analysts who follow the company.

Mr. Chernin’s exit also indicates a degree of instability in the executive ranks at a time when Wall Street has become increasingly frustrated with Mr. Murdoch’s devotion to newspapers, a part of the company that Mr. Chernin is not associated with. Mr. Chernin, who has been president and chief operating officer since 1996, mainly oversaw the Los Angeles-based businesses, like the 20th Century Fox film studio and the Fox broadcast network.

While Mr. Chernin was not seen as a potential successor to Mr. Murdoch — that spot has always been reserved for one of Mr. Murdoch’s offspring — he was a highly paid No. 2 whose presence, in the eyes of Wall Street, represented unemotional leadership at a company controlled by such a large personality as Mr. Murdoch.



Read more: http://www.nytimes.com/2009/02/24/business/media/24news.html?_r=1&hp

[MadBadger]

1. Id like to note that 20th Century Fox and Fox Broadcast Network are not RW at all

I know people like to jump on anything that Murdoch owns, but it isnt all RW.

[RamboLiberal]

2. Want to start the 24 fight?

:evilgrin: Personally that's one of my guily pleasures.

But the Simpsons have skewered the RW and Faux News as well!

[MadBadger]

3. I'll call ur 24 and raise you Family Guy

[RamboLiberal]

4. I haven't watched Family Guy

But I was waiting for all the DU'ers who hate 24 to pop in to this thread.

[Southpaw07]

6. Laura Bush killed a man.............

Funny stuff.

[fujiyama]

7. 24, man that show has REALLY jumped the shark

It used to be fairly entertaining. It's been utter garbage this season and last. I'll admit, I did enjoy season 5 with the president being the main bad guy. It was actually a pretty fun season. Season four is where they started torture porn and it took a major turn for the worse.

[onenote]

5. and chernin donated to Democratic candidates

including Hillary, Obama, Franken, and Dodd in the last cycle. Also to the Democratic Congressional Campaign Committee.