The STAR Group, the Asian television flagship of Rupert Murdoch’s News Corporation, announced Tuesday that it would reorganize its operations and eliminate about 30 percent of its Hong Kong staff to focus on the lucrative Indian market.
Paul Aiello, the chief executive of STAR, will resign under the overhaul. Uday Shankar, chief executive of STAR India since April 2007, will now report directly to James Murdoch, Rupert Murdoch’s son, who is the chief executive of Europe and Asia for the News Corporation.
The company will eliminate about 150 to 200 jobs from its staff of 550 at its Hong Kong headquarters, a spokeswoman, Jannie Poon, said.
STAR will split its business into three units: STAR India, STAR Greater China and Fox International Channels, the company said.
The move is a nod to the growing importance of India to STAR; that market now accounts for more than 70 percent of the company’s revenue. In contrast, STAR has struggled in China, a region where Rupert Murdoch once held out great hopes for expansion.
Source :Reuters
No comments:
Post a Comment