In his previous job as senior VP working on Internet acquisitions, Mr. Philips was pivotal in the acquisitions last year of gaming company IGN Entertainment for $650 million; Intermix’s MySpace, a social-networking site, for $580 million; and college-sports site Scout Media for an undisclosed amount. His new role formalizes his responsibilities. At 33, Mr. Philips is the youngest senior executive at the media company.
CEO Rupert Murdoch has said that he is willing to spend up to $2 billion on online acquisitions to make the Internet the core of his media strategy. “We’ve always been an opportunistic acquirer,” said spokesman Andrew Butcher.
Mr. Philips had been working on the purchases along with Ross Levinsohn, Fox Interactive Media president. Mr. Levinsohn will concentrate on running the online assets the company has bought, Mr. Butcher said.
Before joining News Corp., Mr. Philips had been vice chairman of Ecorp and worked at Citigroup and McKinsey & Co.