Czernin Contract with News Corp. expire on 30 June 2009. According to the publication, Chernin, and the owner of News Corp. Rupert Murdoch led the negotiations on the renewal of the contract, but could not agree on the conditions suit both parties.
One of the reasons for the departure Czernin, previously media experts, may be unsatisfactory financial performance of his kompanii.Aktsii News Corp. per year in lost value almost 70 percent. In the fourth quarter of 2008, company losses amounted to 6.4 billion dollars.
The analysts interviewed by The Wall Street Journal, notes that in the case of care Czernin Book News Corp. waiting for major staff changes.