Large News Corp (NWSA) Holder Wants Murdoch Out of Entertainment CEO Role
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It's never too late to grow a sweet mustache, Rupert.
According to reports out Tuesday, one of News Corp's (Nasdaq: NWSA) largest shareholders is waiting on its dream come true: to see COO Chase Carey as head of News Corp's new entertainment business.
Invesco Senior Fund manager Kevin Holt told The Telegraph that "[i]n a perfect world we would have liked to see Chase Carey in the CEO role and Rupert move up to the chairman role...[Carey's] involvement in this company is important to our ownership."
Carey is no stranger to leading a company; he was CEO at DIRECTV (Nasdaq: DTV) from 2003 through 2006, when he left for News Corp. Invesco sees this experience as invaluable and would like to see the shareholder-friendly exec take the reins while Rupert Murdoch -- who is slated to chair both the publishing and entertainment segments -- focus more on the broader picture rather than handling the day-to-day intricacies.
Invesco currently holds a 1.64 percent stake in News Corp, according to Streetinsider's Ratings Insider.
Shares of News Corp are flat in pre-market trade Tuesday, but up about 10 percent since a split of the company was rumored later in June.
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According to reports out Tuesday, one of News Corp's (Nasdaq: NWSA) largest shareholders is waiting on its dream come true: to see COO Chase Carey as head of News Corp's new entertainment business.
Invesco Senior Fund manager Kevin Holt told The Telegraph that "[i]n a perfect world we would have liked to see Chase Carey in the CEO role and Rupert move up to the chairman role...[Carey's] involvement in this company is important to our ownership."
Carey is no stranger to leading a company; he was CEO at DIRECTV (Nasdaq: DTV) from 2003 through 2006, when he left for News Corp. Invesco sees this experience as invaluable and would like to see the shareholder-friendly exec take the reins while Rupert Murdoch -- who is slated to chair both the publishing and entertainment segments -- focus more on the broader picture rather than handling the day-to-day intricacies.
Invesco currently holds a 1.64 percent stake in News Corp, according to Streetinsider's Ratings Insider.
Shares of News Corp are flat in pre-market trade Tuesday, but up about 10 percent since a split of the company was rumored later in June.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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