Mockridge’s resignation was confirmed by News Corp yesterday. Chairman Rupert Murdoch said his "decision to step down is absolutely and entirely his own".
After Mockridge was parachuted in by News International following the resignation of Rebekah Brooks, many considered him a likely candidate to lead News Corp’s new publishing arm.
However, the Wall Street Journal reported that "people familiar with the matter" had said its own managing editor, Robert Thomson, could be named as head of the corporation’s publishing arm this week.
Thomson became editor of the Financial Times in 2002 and then managing editor of the Wall Street Journal after News Corp’s buyout of Dow Jones. Gerard Baker, who is currently Thomson's deputy, is expected to succeed him at the Wall Street Journal.
Details such as names of board members, senior executives, and the name of the new subsidiary could be announced at the same time.
News Corp’s new publishing arm will include Wall Street Journal publisher Dow Jones & Co, British and Australian newspapers, HarperCollins book publishing and Australian television assets.
The publishing segment of News Corp, which includes most of the new publishing company's assets, accounted for only 11% of News Corp’s operating income in the fiscal year ending June.
News International's chief executive resigns
News International''s chief executive Tom Mockridge has resigned, with the Wall Street Journal managing editor tipped to become chief executive of the corporation's publishing spin-off.
