News Corp Forms Unit To Share Content Across Properties

News Corp announced Tuesday the creation of a new unit to coordinate its various editorial assets and to "allow its worldwide editorial properties to share content and resources."

In making the announcement, CEO Rupert Murdoch called the new portal "vital to our success as a global media entity."

Murdoch has tapped John Moody, who had been Fox News' Executive Vice President of News Editorial, to oversee the new unit. Moody will be charged with improving newsgathering efficiencies and identifying cost-savings across News Corp's various properties, and will report directly to Murdoch.

"John's strong editorial judgment is one of the reasons FOX News is the leading news network in America. I expect he'll lend the same experience and discipline to this new endeavor," Murdoch said in the announcement.

"If done well and used properly, this is a great idea," Business Insider's Dan Frommer wrote. "There's probably a lot of work being needlessly done two or more times by different News Corp properties. Papers like the New York Post have a lot to gain (and little to lose) by getting better access to Wall Street Journal content, and vice-versa."

News Corp properties include the Fox Broadcasting Company, Fox News Channel, Fox Business Network, the New York Post, the Wall Street Journal, The Times of London, The Sun, News of the World, and various Australian newspapers.

Moody will be replaced as the head of Fox News' hard news side by Michael Clemente, an ABC News veteran who joined Fox News in February.

"In his few months at FOX News, Michael has already proven to be a serious journalist with tremendous credentials in both editorial and television, having worked with some of the world's leading journalists throughout his career," Fox News chairman Roger Ailes said in a subsequent announcement. "He understands news programming and has the skill and expertise to command the editorial and television production process."