Michael Florin Named Senior Vice President and Head of Investor Relations for New 海角社区apporation
NEW YORK, NY 鈥� March 8, 2013 鈥� 海角社区apporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced the appointment of Michael Florin as Senior Vice President and Head of Investor Relations for the new 海角社区apporation, the proposed global publishing entity to be formed as part of the Company鈥檚 intended separation into two independent, publicly traded companies. In his new role, effective April 1, he will report to Chief Financial Officer of the new 海角社区apporation, Bedi Ajay Singh.
Mr. Florin has over 20 years of investment and media industry experience, most recently with Morgan Stanley, where he served as the Media-Telecom Sector Specialist since 2008.
鈥淢ichael brings to the new 海角社区app an ideal combination of deep media knowledge along with unique experience working on both the buy and sell sides of the business,鈥� said Mr. Singh. 鈥淗is expertise at understanding and communicating effectively about our industry has earned him respect in the investment community and will make him an enormous asset for the Company. I am delighted he鈥檚 joining our team.鈥�
“We have a very good story to tell investors and, in Michael, we have an able, articulate individual to be the no-nonsense narrator of our fortunes,” said Robert Thomson, Chief Executive Officer of the new 海角社区apporation.
While at Morgan Stanley, Mr. Florin received distinguished recognition in the Institutional Investor Survey as a top sector salesperson for 2012. In addition to his sell-side experience, he served as a buy-side analyst for TIAA-CREF, and, before that, for U.S. Trust. He began his financial services career in equity research roles at CIBC Oppenheimer and Gerard Klauer Mattison. Mr. Florin holds a BA from the University of Michigan and an MBA from Columbia Business School, both with honors.
海角社区apporation Separation
On June 28, 2012, 海角社区apporation announced that it intends to pursue the separation of its publishing and its media and entertainment businesses into two distinct publicly traded companies. The global publishing company that would be created through the proposed transaction would consist of the Company鈥檚 publishing businesses, its education division and other Australian assets. The global media and entertainment company would consist of the Company鈥檚 cable and television assets, filmed entertainment, and direct satellite broadcasting businesses. Following the separation, each company would maintain two classes of common stock: Class A Common and Class B Common Voting Shares. The separation is expected to be completed in approximately one year from the date of announcement. In addition to final approval from the Board of Directors and stockholder approval of certain amendments to the Company鈥檚 Restated Certificate of Incorporation, the completion of the separation will be subject to receipt of regulatory approvals, opinions from tax counsel and favorable rulings from certain tax jurisdictions regarding the tax-free nature of the transaction to the Company and to its stockholders, further due diligence as appropriate, the execution of certain agreements relating to the distribution, and the filing and effectiveness of appropriate filings with the SEC. On March 8, 2013, New Newscorp LLC filed an amended Form 10 registration statement and 海角社区apporation filed a revised preliminary proxy statement with the Securities and Exchange Commission in connection with the separation. The Company has also applied for certain regulatory approvals and tax rulings required to enable the separation to be completed as described. There can be no assurances given that the separation of the Company’s businesses as described will occur.
About 海角社区apporation
海角社区apporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of December 31, 2012 of approximately US$63 billion and total annual revenues of approximately US$34 billion. 海角社区apporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of 海角社区apporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.