The new News Corp held its first investor briefing in the US overnight, and unveiled a new logo based on the handwriting of boss Rupert Murdoch and his father’s handwriting.
At the briefing new chief executive Robert Thomson promised “relentless” cost cutting but was at apins to highlight the fact the newspaper dominated side of the newly split business got almost 50% of its revenues from places other than advertising.
All of the former News Corporation’s Australian assets, including 50% of Foxtel, 100% of Fox Sports and The Australian and a raft of local newspaper titles, will sit in the new News Corp, whilst the powerhouse movie and TV side of the former business will become 21st Century Fox.
Murdoch was also keen to tell investors the move was a solid proposition, adding: “I am not saying I didn't make many mistakes along the way, even some spectacular ones . Why do it all over again? The simple answer, there is opportunity everywhere."
The new logo is written in cursive script, strikingly similar to that of ad agency Leo Burnett.