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m3n4.net August 20, 2018


Rupert Murdoch's son Lachlan to become Fox CEO after Disney deal

17 May 2018, 01:32 | Vera Richards

No more Family Guy: James Murdoch to leave Fox after Disney deal

Lachlan Murdoch in line for chief executive job at Fox after Disney deal

The elder Murdoch will serve as co-chairman. "The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities", Lachlan Murdoch said.

The position of current 21st Century Fox CEO James Murdoch, younger brother of Lachlan Murdoch, is unclear.

John Nallen, the current company's CFO, will become COO of new Fox.

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John Nallen, now Fox's chief financial officer, will take on the expanded role of chief operating officer, 21st Century Fox said in an emailed statement. They are all assets the company said it would keep after striking a $52 billion-deal late previous year with Disney for its major TV and film divisions, which include cable channels FX and National Geographic.

21st Century Fox has unveiled the executive structure of the proposed "New Fox" group in the U.S., which will be formed if a proposed buyout of its other assets by Disney goes ahead. Time Warner, CNN's parent company, also owns a 10% stake. Plus, Comcast recently said it wants to buy all of Sky for $31 billion. As expected, the new-model Fox Broadcasting Co. will emphasize live sports and events.

There was no mention of Lachlan's brother James Murdoch in the Wednesday morning memo. "I look forward to joining Lachlan as we begin to establish new Fox".

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In recent months, James has distanced himself from the politics espoused by his father and the company's flagship channel, Fox News. This was notable because his father speaks with Trump often.

Fox News separately confirmed on Wednesday that it has reached a settlement with a group of former employees who had filed lawsuits that included allegations of racial and gender discrimination. The deal also has Fox's share of Hulu going to Disney, which means the latter will have 60 percent of that digital VOD asset, and Disney also is supposed to get Fox's 39 percent share of Sky, the European TV giant.

The Wall Street Journal, owned by the Murdoch publishing company News Corp, has reported that he intends to set up a venture capital fund to invest in media and technology start-ups.

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