The new company will operate as part of Shine Group and aims to find innovative formats and ways of monetizing content, as well as encouraging viewer engagement. Part of this will be through partnerships with Shine Group production companies, which include Kudos, producer of 'Ashes to Ashes' and 'Spooks', and Princess Productions, which is behind Five's 'The Wright Stuff'.
Joanna Shields was CEO of Bebo when it was sold to AOL for $850m in 2008. She was promoted to president of AOL's communication and social media properties but left the company in June this year. She will become chief executive of the new company, which has yet to be named.
Murdoch said: "To grow as a content company, it is vital to venture beyond the traditional approaches to television and online media that so quickly date, and there is nobody better placed to explore this with than Joanna. Her ability to read trends and identify the opportunities they present make her a natural and proven entrepreneur and peerless within digital media. I am thrilled to partner with her to build something creative and meaningful."
Shields was managing director at Google before joining Bebo in 2007.
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