According to the Financial Times News Corp

With the success of "Slumdog Millionaire", distributed by Fox Searchlight in the US market not less than eight oscars including the best film , Peter Chernin, the arm of Rupert Murdoch, who handled all especially for movie studios, the chain of Fox television and Digital News Corp. twelve years activities, left the group to mount his own production company. Seventy-seven years, it is Rupert Murdoch in person which takes the torch. James Murdoch, aged thirty-six years, umbrella activities European and Asian Group, would have for his part preferred to keep his current responsibilities...

The media magnate will resume live hands on activities which was Peter Chernin. It is to him that branch patterns linked now. Some of them the two co-chairs of Fox Filmed Entertainment, James Gianopulos and Tom Rothman, Peter Rice (President of Fox Searchlight and Fox Atomic) could be given more responsibility. "We have the chance to have a group of managers experienced in our Fox Business and I am sure that our success will continue," said Rupert Murdoch, while ensuring that Peter Chernin would miss him, even if he understood that want anything in his career...

A contract on measurement

After twenty years of home, number two of News Corp. will leave the group in June, with ladle a customized contract negotiated in recent weeks. The Rupert Murdoch media group agrees to buy him two films per year for six years. It will have a right to first look for all its television and film projects. According to the "Financial Times", News Corp. will in addition to Peter Chernin 40 millions of dollars in severance (his annual salary was $ 28.8 million last year, slightly higher than that of Rupert Murdoch). Peter Chernin will also be entitled to fifty hours of use of the aircraft of the Group and a car.

At the age of fifty-seven, this last leaves the media group ("Wall Street Journal", "New York Post, Fox News, Fox Searchlight...) at the point where it crosses a pass difficult: penalized by the fall of its advertising revenue and unfavourable exchange rates, News Corp. announced that it planned a decline of 30 of its operating profits this year after having registered a loss of $ 6.4 billion in the second quarter of the fiscal year in progress (closed December 31). However, the sale of a stake in NDS Group, which provides technology for pay-TV, should leave the group with $ 5 billion in cash. The operational profit after adjustment should be more than 3.5 billion this year, according to Rupert Murdoch, who announced in a news release to the employees that it intended to reduce the management in Los Angeles and consolidate administrative functions.

In the current situation very depressed, the expertise of Peter Chernin, who is regarded as one of the best managers of Hollywood and whose name has regularly referred to the direction of Yahoo! or even Apple, may however Miss to the group. "This is a real loss, said David Bank, an analyst with RBC Capital Markets, to the Bloomberg Agency, its operational capabilities were very complementary to the strategic vision of Rupert Murdoch.