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News Corp. names Nallen CFO as DeVoe retires

NEW YORK (AP) -- News Corp. said Thursday that David DeVoe will retire as chief financial officer at the end of the month after serving as CFO since 1990. The move will occur after the company splits into two on June 28.

John Nallen, deputy CFO since 2001, will be the new CFO.

Following the separation of the publishing division, which will continue to be called News Corp., Nallen will oversee finances for the larger entity — 21st Century Fox — which will house the TV and movie businesses.

DeVoe joined News Corp. as a senior financial executive in 1983. He will continue to be an adviser to the company and keep a seat on the board of 21st Century Fox.

News Corp. shares rose 74 cents, or 2.4 percent, to $31.68.