James Murdoch, deputy chief operating officer, has relinquished his position as executive chairman of News International, its UK publishing unit," News Corp said in a statement. "Tom Mockridge, chief executive officer of News International, will continue in his post and will report to News Corporation president and COO [chief operating officer] Chase Carey."

NewsCorp has announced that digital newspaper 'The Daily' has amassed 100,000 paid subscribers to date. 'The Daily' was launched a year ago. At the time, News Corp. chairman Rupert Murdoch said 'The Daily' would have to pull in 500,000 paying subscribers to be viable, given its weekly operating costs of $500,000. Despite the fact that 'The Daily' is currently the top grossing app, the paid subscribers level to date is well below the half-million goal set by Murdoch last year.

Rupert Murdoch has opened an account on micro-blogging platform Twitter. Murdoch, who is the owner of News Corp., now has more than 40,000 followers on the site. The media mogul has tweeted about a range of subjects, including politics and movies. Murdoch himself was openly criticized via the social media platform when the News of the World scandal broke earlier this year.

Saudi prince Alwaleed bin Talal has invested $300 million in Twitter. With Twitter's worth currently estimated at $8 billion, the investment amounts to a 3.75% stake. The prince, who is the second largest investor in Rupert Murdoch's News Corporation, has taken the stake with his Kingdom Holding Company investment firm. "Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact," said Alwaleed in a statement.

The National reports that Rupert Murdoch’s Fox International Channels plans to launch additional entertainment channels next year. Now broadcasting 12 channels in the MENA region, including Fox Movies, Fox Series and Star World, Fox plans to convert all of its regional broadcasts to high definition by 2012. The company intends to pursue its strategy of broadcasting across both pay-TV and advertising-driven free-to-air platforms.

Financial Times has reported that British Sky Broadcasting is in talks to broadcast a 24-hour rolling news service in Arabic, based in Abu Dhabi, as part of a joint-venture with a local private investor. Entering a highly competitive market, the satellite channel would launch under the Sky News name and be the UK broadcaster's first venture into a territory outside the UK.

Talking to Bloomberg TV, Arabian Business reports that Saudi Prince Alwaleed bin Talal is planning to start a regional news channel, one that would compete with Al-Arabiya and A-Jazeera. This investment is something that Prince Alwaleed will be doing personally, and not produced through Kingdom Holding or Rotana. According to Bloomberg, the news channel would borrow from the business model used at Rupert Murdoch’s Fox and Sky News channels while broadcasting different content in the Middle East.

Prince Alwaleed bin Talal is a major investor in News Corp, and in return Rupert Murdoch took a 9% stake in Alwaleed’s Rotana music-to-movies TV channel empire. RapidTVNews reports that there have been many discussions over the past few weeks whereby News Corp’s may exercise its option to take a larger stake in Rotana.