News Corp. Exec's New Rallying Cry: Pay Up

LA Times Profiles #2 Man At News Corp.

Bloomberg photo

In Chase Carey's first stint at Rupert Murdoch's News Corp., he was instrumental in reinventing Fox and turning it into a credible contender against the big three networks.

For his encore, he wants to reinvent the media business, according to a story by Joe Flint and Dawn C. Chmielewski at the LA Times.

Since leaving satellite broadcaster DirecTV almost 22 months ago to succeed Peter Chernin as the No. 2 at News Corp. under Murdoch, Carey has moved quickly to wrangle new sources of revenue for the media giant that owns broadcast and cable networks, newspapers, a movie studio and MySpace.

At the same time, Carey has pulled News Corp. back from placing big, costly bets on the digital future. Instead, he has adopted a cautious approach in weighing how to get the company's news, movies and TV shows in front of new audiences — and ensuring the company is paid for it.

Carey — most likely to succeed Murdoch as chief executive should the octogenarian mogul step back before his heirs are ready to take the reins — is signaling a new, pragmatic, show-me-the-money mantra as he exerts his influence at a company matched in the public's mind with Fox News and episodes of "Glee."

As president and chief operating officer with a 2010 pay package valued at $26 million, Carey is responsible for overseeing $33 billion in revenue.

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