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Chernin to leave News Corp.

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New York—News Corp., the owner of Dow Jones & Co., announced Monday that President-COO Peter Chernin, who is also CEO of the Fox Group, will step down when his contract expires June 30.

The Los Angeles-based Fox businesses will report directly to News Corp. Chairman-CEO Rupert Murdoch upon Chernin’s departure.

Chernin joined News Corp. in 1989 and has served as president-COO since October 1996. “Peter’s contributions to the company over the past two decades have been immeasurable. He has led important businesses and nurtured talented managers,” Murdoch said in a statement. “We are fortunate to have such a strong and seasoned group of leaders at our Fox companies, and we are confident that our success will continue. To that end, Peter and I will work closely over the next four months to ensure an effective transition.”

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