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Carey Steps Down At News Corp.

24 Jan, 2002 By: Hive News

Chase Carey, co-chief operating officer of Rupert Murdoch's News Corp. for more than five years, has resigned, the company said today.

No reason was given for Carey's departure and his replacement has yet to be named.

Carey said it's "the right time for me to take a step back and catch my breath" in a statement.

A comment from News Corp. was not immediately available.

Carey, who also served as chief executive of Sky Global Networks, will stay on News Corp.'s board of directors and will a consult for the company, according to CBSMarketwatch.com.

U.S.-listed shares of News Corp. were unchanged at $28.60 in early afternoon trading,while the spinoff Fox Entertainment Group slipped 3 cents to $22.50, Marketwatch reported.

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