Jacobs joined News Corp. in 1996 as deputy to Arthur Siskind, whose position he took over in 2004 when Siskind stepped down and announced his retirement. Most notably, Jacobs was responsible for the acquisitions of MySpace, Dow Jones and DirectTV during his tenure as General Counsel. His salary in 2007 was $4.1 million.
Resignation
On June 8, 2011, Jacobs announced that he would be stepping down from his position as General Counsel at News Corp. in order to "pursue new opportunities." Jacobs' resignation came when he approached the company Chief Operating OfficerChase Carey to inform him that News Corp. was in breach of his contract; chairman & CEO Rupert Murdoch was using former New York City Schools Chancellor, and newly appointed News Corp. executive, Joel Klein, who joined the company in November 2010, for legal counsel instead of himself. He was released from his multimillion-dollar contract with News Corp. with four years remaining on it. There are numerous reports regarding the cause for Jacobs' sudden departure, though it is rumored that Jacobs left due to being the top legal officer during the time of the News International phone hacking scandal, as well as friction with Klein. Despite such speculation as to Jacobs' reasoning for leaving, it is not known that Jacobs had any involvement in or knowledge of the News of the Worldphone hacking.
Jacobs currently serves on the board of multiple organizations. On April 1, 2013, he officially began his position as General Counsel of Empire State Development, a public authority of the state of New York that finances and operates several ambitious state projects. This was Jacobs first time as a Chief Legal Officer following his departure from News Corporation. Despite having joined the company in April, Jacobs left only seven months into his tenure in order to join Time Inc.
Time Inc.
On November 1, 2013, Jacobs returned to the private sector, joining Time Inc. as it began its transformation from a publishing house into a media corporation, all while being spun off from its parent company, Time Warner. Jacob played an important role in the company's transition into a public corporation.
Personal life
Jacobs is a Democrat. He was a supporter of Hillary Clinton's 2008 presidential campaign. Jacobs also endorsed Hillary Clinton in the run-up for the 2016 U.S. presidential election. He lives with his wife Hannah and their two daughters on the Upper West Side of New York City. Jacobs youngest daughter is intellectually disabled.
Philanthropy
Jacobs is involved in many philanthropic efforts including those that grant educational opportunities for people from underprivileged backgrounds. Because of this involvement, he has been associated with numerous organizations. In March 2008, Jacobs was honored for his work with the JCRC and was awarded the Corporate Leader Award. He was presented with the award by his colleague, Fox NewsPresident and CEORoger Ailes. Jacobs was the honoree at the Cooke Center for Learning and Development on April 27, 2009, where he received the Cooke's Founders Award. He spoke out against discrimination directed towards people with disabilities. Jacobs has been a fervent supporter of disability awareness. He is against the misuse of the word "retard" because of its offensive connotation towards people with special needs. Jacobs was honored while he was Chairman of the Cooke Center Board of Directors. In May 2011, Jacobs, along with New York Giants quarterback Eli Manning and George Hornig, was honored by , run by Ann Rubenstein Tisch, for their 10th anniversary ceremony. Jacobs was recognized for his work with organizations in order to further his mission to offer a higher education to people of all income levels. In November 2011, Jacobs was honored with his wife Hannah, who is a disability advocate, and Woody Allen by . Mr. Jacobs was acknowledged for his work with Special Olympics for creating a for the Spread the Word to End the Word campaign.
