Lachlan Murdoch to Become Chairman & CEO of New Fox

Marco Green
May 16, 2018

Lachlan Murdoch will serve as chairman and chief executive of the proposed new "Fox" company - a position senior to father Rupert Murdoch - once the deal to sell Fox assets to Walt Disney is approved by shareholders and regulators, the company said today. Rupert Murdoch will be co-chairman of New Fox.

Rupert Murdoch said Fox will be the only media company exclusively focused on the U.S. market and "on what America loves best-sports, news and entertainment". "The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities", said Lachlan Murdoch, 46.

Media baron Rupert Murdoch will act as co-chairman at the new company while John Nallen, 21st Century Fox's chief financial officer, will take the role of Fox's chief operating officer. John Nallen, now Fox's chief financial officer, will take on the expanded role of chief operating officer.

The plan announced a year ago, which remains subject to regulatory approval, would give Disney the vaunted Fox Hollywood film and television studios, cable entertainment networks and global TV businesses.

That leaves the newly formed Fox with Fox News Channel; Fox Business Network; Fox Broadcasting Company; Fox Sports; Fox Television Stations Group; and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network.

Disney would also get Fox's stake in Hulu, which is a joint venture between Disney, 21st Century Fox and Comcast, the parent company of NBC.

It has been reported that he is likely to leave the new company after the deal with Disney goes through.

Its brands will include Fox News, Fox Business and Fox Sports.

"The new Fox will begin as the only media company exclusively focused on the domestic market; focused on what Americans love best-sports, news and entertainment, built and delivered for a USA audience", said Rupert Murdoch.

In 2013, Fox was separated from Murdoch's News Corp., which retained newspaper operations in the US, Britain and Australia.

Other reports by Click Lancashire

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