News Corporation is planning a sweeping shake up of its Star Asian television operations, including a sharp cut in jobs in Hong Kong and the rest of the region, the Financial Times said today.
James Murdoch, head of News Corp's Asian and European operations, will head the shakeup as the group aims to cut costs and consolidate overlapping operations, the newspaper said, citing unnamed sources.
Star's Indian operation, which generates the most profits for the group in Asia and reports to Hong Kong, will become independent and start reporting directly to James Murdoch.
News Corp aims to eliminate overlap between Star, which operates 60 channels in 13 languages and is distributed in 53 Asian countries, and Fox International channels which distributes the cable networks FX, National Geographic and other channels in the region.
The plans, yet to be finalised, are part of News Corp's global rethinking of its business at a time when media consumption is moving online, the FT said.
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