News Corp extended the CEO Robert Thomson’s contract for another five years, the company announced on Sunday.
Thomson was appointed for the first time in 2013. The extension of the contract, which takes place until June 2030, “is a recognition of … The exceptional history of transformative leadership, value creation and effective advocacy for journalism and the protection of intellectual property,” said the company in its declaration.
“Rupert and Lachlan Murdoch skillfully sculpted a passionate company and based on principles and determined, and it is a deep privilege to serve as general manager,” said Thomson. “For journalists, for the authors, for society, for those who try and aspire, they are moments of immense challenge and unlimited opportunities. Our management team is very aware of an unshakable responsibility towards our shareholders, and we are grateful for the sterling efforts of all our colleagues while we are continuing profitability and we seek to achieve our vast potential. ”
News Corp notes that the company has delivered its most profitable years of exercises 2021 to 2024, with continuous performance until 2025.
Since his appointment, “News Corp has undergone an important transformation, emphasizing strategic investments in its basic growth pillars – Dow Jones, digital real estate services and books – and has delivered its four most profitable years,” said the company. “During this period of dramatic change between the media and technology, News Corp has prospered, while many other media entities have woven.”
Thomson’s mandate saw the company refocusing its income base by emphasizing recurring digital income – around 50% for financial year 2024, against 20% in 2014 – “materially reducing exposure to cyclic advertising”.
The company has also doubled the profitability of Dow Jones, sold Foxtel in Dazn, signed agreements with major technological platforms such as Openai and has completed key acquisitions of OPIS and basic chemicals.
“Robert played a decisive role in the growth and transformation of News Corp, and its vision and its leadership are extremely important while the company continues to sail in this era of rapid change,” said News Corp president Lachlan Murdoch, in a press release. “Robert has created an exceptional shareholder value, orchestrated a significant transformation of our asset base and makes strategic investments in growth engines such as Dow Jones, digital real estate services and a publication of books. There is a crucial voice in the struggle for publishers and journalists in the digital age, and an ardent defender of intellectual property rights. I look forward to his leadership. ”
