News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced that Tom Rothman will step down as Chairman and CEO of Fox Filmed Entertainment at the end of the year. Leadership of the film unit has been consolidated under Chairman and CEO Jim Gianopulos, who has served with Rothman since 2000.
“I have been at Fox for over 18 years, the bulk of my adult working life,” Rothman said. “In that time we have accomplished more than I ever imagined, from the founding and nurturing of Fox Searchlight, to overseeing the two biggest films in box office history, to keeping us consistently at the highest levels of industry profits, including this most recent strong fiscal year, and, most of all, making dozens of films that I believe will stand the test of time. I’m deeply proud of that run. But even more, I am eternally grateful to have had the honor and opportunity to work with the marvelous people here at Fox. I will miss them hugely. Still, I have done the same job, at the same place, for a very long time, and it is time for me to write a new chapter. I love 20 th Century Fox and take great comfort knowing that we have an amazing slate of pictures in place for the next several years. I know that Jim and all my terrific colleagues at Fox, will continue our long tradition of winning ways, and I will help in the transition in any ways I can.”
In conjunction with Rothman’s departure, News Corporation announced a reorganization of its studio operations that separates the film and television production units. As a result, the film business will now assume the name Twentieth Century Fox Film, and is comprised of Twentieth Century Fox Film, Fox Searchlight Pictures, Fox 2000, Fox Animation/Blue Sky Studios, Fox International Productions, and Fox Home Entertainment.