MUMBAI: News Corp?s media and entertainment company to be created by the proposed separation of its businesses has been renamed 21st Century Fox.

News Corp had in December decided to name its media and entertainment company as Fox Group. The publishing subsidiary, though, will retain the name News Corporation.

The name, which will be effective with the separation, aims to draw on the company?s creative heritage, while also speaking to the future as well as the innovation that defines its portfolio of businesses. 21st Century Fox replaces the previously announced name Fox Group.

Rupert Murdoch will serve as 21st Century Fox chairman, CEO. News Corp COO Chase Carey will be 21st Century Fox president, COO.

Murdoch said, "Over the years, we have built a global portfolio of companies that has consistently defied conventional wisdom, and succeeded where others have failed because we are driven by a steadfast belief in great ideas, the power of imagination and the desire to thrill and engage audiences with enduring stories and experiences.

"21st Century Fox is a name that draws upon the rich creative heritage of our film studio, while also speaking to the innovation and dynamism that define all of our global media and entertainment businesses and will guide us into the future."

Reaching more than a billion people in 100 local languages every day, the proposed 21st Century Fox will be home to a global portfolio of cable and broadcasting networks and properties, including Fox, FX, FXX, Fox News Channel, Fox Sports, Fox Sports Network, National Geographic Channels and Star; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and Shine Group.

The proposed company will also provide premium content to millions of subscribers through its pay-television services in Europe and Asia, including Sky Deutschland, Sky Italia and its equity interests in BSkyB and Tata Sky, the joint-venture between News Corp and Indian conglomerate Tata Group.

MUMBAI: Rupert Murdoch-promoted News Corp has decided to exit Sky Network Television, New Zealand?s pre-eminent pay television broadcasting service, by divesting its 44 per cent stake in the company.

The global media conglomerate is the largest shareholder in Sky New Zealand through its subsidiary News Limited.

The company has appointed Deutsche Bank to underwrite and, together with Craigs Investment Partners, to manage the sales of its Sky shares. The shares are expected to be sold to a broad range of institutional and retail investors.

Following the sales, News Limited will no longer have any holding in Sky Network Television. As a result of the sale, Michael Miller, Regional Director of News Limited, will resign from the board of Sky.

News Corp President and COO Chase Carey said, "Sky is a world class subscription television business and has been an outstanding investment for News Corporation. We and Sky have always enjoyed an excellent, arms-length working relationship and we expect this to continue unaffected by the sale. In particular, we do not anticipate any change to current arrangements regarding access to content and collaboration on technology."

According to The Australian newspaper, News Limited shares were being offered at NZ$ 4.80 each, giving the stake a value of NZ$ 815 million ($671 million).

MUMBAI: Rupert Murdoch?s News Corporation will become the majority shareholder in Sky Deutschland with a 54.5 per cent stake in the loss making German media company.

News Corporation, which holds 49.9 per cent stake in Sky Deutschland, has reached an agreement with the company and its new bank syndicate to support both a new financing structure and the issuance of ?438 million of new equity.

The new bank financing, which will be guaranteed by News Corporation, will replace Sky Deutschland?s current bank debt facilities.

As a result of this transaction Sky Deutschland will become a consolidated entity of News Corporation, the company said in a statement.

Under the new financing structure, News Corporation has committed to provide a guarantee to Sky Deutschland?s lending banks and to act as guarantor to the German Football League (DFL) for Sky Deutschland?s new Bundesliga broadcasting license for the 2013-17 seasons in an amount of up to 50 percent of the license fee per season.

"We have always believed in Sky Deutschland?s ability to transform the pay TV experience in Germany and Austria and this new financing structure further validates that longstanding commitment," said News Corporation President and COO Chase Carey.

"News Corporation?s continued investment underscores the value we see in Sky Deutschland and the significant market opportunities it faces, and reflects our confidence in its management team and their strategies for growth."

The move comes as the company is in the process of splitting its profitable media and entertainment business from the loss making publishing business. The M&E entertainment company will be known as Fox Group while the publishing entity will retain the name News Corporation.

Earlier, Rupert Murdoch?s News Corp, which owns 39.1 per cent in BSkyB, had made a failed attempt to taking full control of the UK pay-TV operator due to the phone hacking scandal.

MUMBAI: News Corp chief Rupert Murdoch and his son James Murdoch, who is the deputy COO of the company, have seen their annual bonuses decline courtesy the phone hacking scandal, which led to shutting of News of the World newspaper, multi-million dollar suits, arrest of top officials and deferred bid to buyout BSkyB.

As per regulatory filings, News Corp has determined to award only half of the qualitative portion of the annual bonuses for four top executives namely Rupert Murdoch, James Murdoch, David DeVoe and Chase Carey for the fiscal year 2012.

The company?s 81-year-old chairman and chief executive had earned a bonus of $10.4 million in 2012, while his son James earned a bonus of $5 million. As per the filing, Jr Murdoch had declined to take his $6 million bonus in fiscal year 2011 as a result of the hacking scandal.

Overall, Rupert Murdoch?s total compensation too declined for the fiscal year to just over $30 million against $33.3 million in 2011. However, son James? total compensation increased from $11.9 million in 2011 to $16.8 million in the 2012 fiscal.

News Corp Senior EVP and Chief Financial Officer David DeVoe and deputy chairman, president and COO Chase Carey had received an annual bonus of $4.17 million and $8.3 million respectively.