FIM to Restructure, Change Name
D: All Things Digital, Tuesday, June 23, 2009 1:30 PM
Fox Interactive Media CFO Ed McKenna is moving to another post inside News Corp. amid a broader restructuring of the interactive media unit, Kara Swisher reports. The restructuring should see FIM's Web, online advertising and publishing technology units receiving more autonomy, and could also include a name change for the four-year-old division.
MySpace, of course, is by far the largest of FIM's properties. Aside from nearly cutting its worldwide staff in half, new CEO Owen Van Natta and new News Corp. Chief Digital Officer Jonathan Miller are also working on a major overhaul of the MySpace product, which Swisher says "needs to innovate after a fall-off of growth and engagement."
The original idea behind FIM was to unite the financial, legal, technology and ad sales operations of News Corp.'s standalone digital units. However, according to one source, uniting the disparate units has bloated the company. "In a lot of ways, FIM has become an artificial construct and a lot of the infrastructure it has created should be out in the individual businesses. So, since it is not really an operating unit, it will be taken down to the minimal size to make it work." Swisher notes that there are currently about 100 FIM-only employees-mostly in human resources, accounting and legal.
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MySpace, of course, is by far the largest of FIM's properties. Aside from nearly cutting its worldwide staff in half, new CEO Owen Van Natta and new News Corp. Chief Digital Officer Jonathan Miller are also working on a major overhaul of the MySpace product, which Swisher says "needs to innovate after a fall-off of growth and engagement."
The original idea behind FIM was to unite the financial, legal, technology and ad sales operations of News Corp.'s standalone digital units. However, according to one source, uniting the disparate units has bloated the company. "In a lot of ways, FIM has become an artificial construct and a lot of the infrastructure it has created should be out in the individual businesses. So, since it is not really an operating unit, it will be taken down to the minimal size to make it work." Swisher notes that there are currently about 100 FIM-only employees-mostly in human resources, accounting and legal.
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