News Corp. is giving CEO Robert Thomson a long-term contract extension, a deal that should keep the executive at the helm of the company as it pursues new AI deals, and continues its digital transformation.
Thomson, who has led News Corp. since 2013, signed a deal that will keep him as CEO through June 2030. News Corp. owns The Wall Street Journal and Dow Jones, as well as book publisher HarperCollins, The New York Post, a digital real estate business and other assets.
It also comprises a big piece of the Murdoch family empire, alongside Fox Corp.
“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.”
Thomson, aside from being forward-thinking when it comes to the relationship between publishers and tech giants (he spearheaded talks to generate from revenue from companies like Google and Meta), has been actively courting deals with AI companies in recent years. He is also eminently quotable.
“Rupert and Lachlan Murdoch have adroitly sculpted a company that is passionate and principled and purposeful, and it is a profound privilege to serve as Chief Executive,” Thomson said. “For journalists, for authors, for society, for those who strive and aspire, these are times of immense challenge and boundless opportunity. Our leadership team is acutely conscious of an unwavering responsibility to our shareholders, and we are grateful for the sterling efforts of all our colleagues as we pursue profitability and seek to realize our vast potential.”
Read the original article here