News Corp names new internet investments head

News Corp has named a new head for its internet investments strategy, underscoring the media conglomerate's renewed focus on the web.

Jeremy Philips, 33, has been promoted to executive vice president and will join the company's executive management committee. He will report to Rupert Murdoch, as he did in his former position as senior VP, a post he took up in July 2004.

Previously Philips held positions at Citigroup, ecorp and McKinsey & Company.

News Corp chairman and CEO Rupert Murdoch, a 2005 silicon.com Agenda Setter, said last year the company plans to invest $2bn in internet investments. It's already spent about half of that on businesses such as the owner of entertainment website MySpace.com, sports site owner Scout Media and online gaming company IGN Entertainment.

The company was also rumoured to have been in the running for VoIP player Skype, which was bought by eBay, and Friends Reunited, which was bought by ITV.

The silicon.com Agenda Setters panel, tasked with choosing the 50 most influential individuals in tech, ranked Murdoch in the top 10 largely due to his renewed interest in online media.

As Agenda Setters panellist and media journalist Kate Bulkley said last autumn when the winners were chosen: "He's woken up again to the internet."