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
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.