News Corp reorganizes Asia broadcast business

NEW YORK — News Corp., the global media empire run by Rupert Murdoch, said Tuesday it was restructuring its broadcast business in Asia and that Paul Aiello, the chief executive of its STAR channels, is stepping down.

News will group its Asian broadcast business into STAR India, STAR Greater China and Fox International Channels. The heads of the STAR units will now report to Murdoch’s son James, News Corp.’s CEO of Europe and Asia.

The company said the changes are designed to support the growth of each unit, and will result in a reduction at its regional operation in Hong Kong as resources are deployed to local markets.

Aiello will stay at the company until the end of December to ensure a smooth transition, it said.

STAR India will run 19 channels in eight languages and manage News Corp.’s interest in seven ventures. STAR Greater China will oversee five Chinese language channels, and the joint ventures Phoenix television and Fox STAR Studios.

Fox International Channels combines 37 channels including Star World and National Geographic Channel and will reach 428 million households.

News shares rose 21 cents, or 2 percent, to close at $10.62 on Tuesday.