News Corp has announced it is to restructure its broadcast business in Asia into three units Star India, Star Greater China and Fox International Channels (FIC).
The enlarged FIC will combine the English language channels previously managed by Star with the Fox and National Geographic brands for distribution in the rest of Asia. The role of FIC in Asia will be similar to the one that it has enjoyed in Europe following the October 2007 purchase by the Fox Entertainment Group of BSkyB’s stake in the NGC-UK Partnership.
While resources are being moved from Hong Kong into regional markets with the loss of around 150 posts, a new News Corporation office will be opened, housing a small group of executives from the current Star team. It will report to London and manage News Corp’s investment in joint ventures including ESPN Star Sports.
However, the current CEO of Star Paul Aiello will not be among the Hong Kong team, having chosen to step down in December following a period of transition.