In a surprise announcement yesterday News Corporation said senior executive vice president and general counsel Lawrence “Lon” Jacobs is leaving to “pursue new opportunities.” The company did not name a successor and a spokesman declined to discuss the change. Mr. Jacobs, 56, has been with the media giant for 15 years and played a key role in several major deals, including the company’s purchase of The Wall Street Journal. He also engineered the $500 million settlement in January 2010 with Valassis Communications Inc. Valassis, a coupon company, had claimed News Corp. was engaged in anti-competitive practices.

In a statement, Rupert Murdoch, chairman and CEO of News Corp., said, “I will always be grateful to Lon not only for his wise counsel, but for his key role in helping build News Corporation into one of the world’s largest and most successful diversified media companies.” Mr. Jacobs helped create the Fox TV network and worked on the acquisitions of MySpace and Dow Jones. He said in the statement, “I have had the great privilege of calling News Corporation my home for a decade and a half. Although it is never easy to choose the perfect time to leave, I am proud of what we have achieved and I have personally reached the point in my life where it seems appropriate, and exciting, to try something new.”

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