The change brings Newscore CEO John Moody back to Fox News as EVP and Executive Editor. He’ll work with Michael Clemente, who’s now EVP in charge of News Editorial. Here’s the release:

NEW YORK– FOX News has elevated two executives in the network’s hard news division, announced Roger Ailes, Chairman & CEO, FOX News. Michael Clemente has been promoted to Executive Vice President of News Editorial and John Moody, currently the CEO of Newscore, will return to FOX News as Executive Editor and Executive Vice President. Both executives will report directly to Ailes.

Newscore, a news service that allows worldwide editorial properties to share content and resources across all News Corp entities will now be absorbed into the day to day operations of FOX News.

In making the announcement, Ailes said, “As our fiscal year comes to a close, I’ve determined that Newscore will operate more efficiently and effectively inside FOX News. This move will strengthen our overall newsgathering capabilities and enable us to operate at an even higher level.”

Clemente will continue to run day to day operations for the entire news division while Moody will operate as a senior adviser to Ailes on all editorial matters. Moody will also serve as the Executive Editor of foxnews.com and oversee all news related digital assets.

Ailes said, “John’s extensive experience in news for the past several decades both in television and in print remain unmatched in the industry. John helped us become the number one news network and I look forward to working closely with him again.”

Ailes further noted, “Michael Clemente is one of the most seasoned television news executives in the business. He continues to have the mindset of both a journalist and the instincts of a television programmer which have served the network very well during his tenure.”

Prior to his role with Newscore, Moody served as the Executive Vice President, News Editorial of FOX News where he was responsible for all editorial direction and story content for 13 years. Before this, he spent more than a decade at TIME Magazine as both a writer and bureau chief.

Clemente joined FOX News in February of 2009 as the Senior Vice President of News Editorial and has overseen all news operations and news editorial for the network, including the notable political coverage of the current election season.

Before joining FNC, Clemente spent 27 years at ABC News, where he served as senior broadcast producer for 20/20 with John Stossel, Elizabeth Vargas and Barbara Walters, as well as the executive producer of ABC’s breaking news specials during that same period. He also served as senior broadcast producer for World News Tonight from 1997-99 and was the chief producer for Peter Jennings, responsible for much of the editorial and creative direction for the anchor. In between stints at ABC News, he spent two years at CNN in Washington.