RealTime IT News

News Corp. Forms Online Investment Unit

News Digital Media, a division of News Corp., is forming a new unit that will handle the company's Internet investments.

News Digital Ventures will serve as an investment vehicle for News Digital Media, bolstering the company's Internet holdings. It's primary purpose is to leverage News Corp.'s (NWS) global marketing and distribution platforms, as well as its original digital content assets through venture capital investments.

Future investments will increase the growth of News Digital Media, allowing the company to extend its current assets and explore potential for growth in new areas.

The unit will be headed by Kathryn Fink who will also continue to manage strategic investments and initiatives for News Digital Media, as well as its parent company, News Corp. Prior to developing News Digital Ventures, Fink served as senior vice president of News Digital Media since the company's inception in November 1997. She managed the business operations of the company's Internet sites, including FOXSports.com, FOXNews.com, FOXMarketwire and FOX.com.

"Creative partnerships and investments are critical in building and extending our digital media assets," said James Murdoch, executive vice president of News Corp. "Kathryn has a deep understanding of News Digital Media and a stellar track record with Internet investments. The creation of News Digital Ventures gives us a vehicle for building on an already substantial base."

News Digital Media, formally News America Digital Publishing, is the electronic publishing division of News Corp.'s News America Publishing Group. News Digital Media operates FOXNews.com, FOXSports.com, FOXMarketwire.com, and FOX.com; develops related interactive services such as broadband products and enhanced television; and directs investment activities and strategy for News Corp. as they relate to digital media.