To cope up with the current times and make the most of the changing market scenario, New Limited has announced that it is looking to indulge in a major restructuring of its Australian operations, under which, Nationwide News MD Alasdair MacLeod will step down and News Digital Media boss Richard Freudenstein will add The Australian to his already impressive management portfolio.

The newest restructuring has come a mere month after various executive promotions happened at News Digital Media, including the shifting of Ed Smith's role from Chief Commercial Officer to Chief Executive of Content and Commercial.

"We intend to not only grow circulation and readership of the print version, but significantly broaden the reach of its world class journalism online, on mobile and on new platforms. Y creating a separate division and deploying more resources, we aim to enter an unprecedented era of growth", said News Limited Chairman and Chief Executive, John Hartigan.

Under the restructure, The Australian will be removed from the Nationwide News unit of News Limited, which will continue with its publication of The Daily Telegraph and The Sunday Telegraph. There will also be major top management reshuffles.