Updating a story first reported by TVNewser yesterday, we now know what former Fox News EVP John Moody will be doing for News Corp.

Business Insider reports he’ll head up an internal Web portal that will allow various News Corp. properties to share content and resources. Writes Dan Frommer:

If done well and used properly, this is a great idea. There’s probably a lot of work being needlessly done two or more times by different News Corp. properties. Papers like the New York Post have a lot to gain (and little to lose) by getting better access to Wall Street Journal content, and vice-versa.

> More: From Reuters: “In this new role, Moody will collaborate with news chiefs across all News Corporation properties to improve news gathering efficiencies and identify areas of cost savings.”