Lachlan Murdoch Succeeds Brother at Fox

Darnell Taylor
May 17, 2018

Twenty First Century Fox's James Murdoch will be succeeded by his brother Lachlan as chief executive officer once the company's TV and film assets are acquired by Walt Disney Co, Fox said on Wednesday.

Lachlan said: "We have worked through the winter 'standing up" a reimagined independent Fox.

The deal sells off Fox's TV and Entertainment sections, leaving the company to focus exclusively on its news and media divisions which will include 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. Fox is now trying to sell off $52 billion of TV and entertainment assets, and once the deal is finalized, the resulting company will be lead by Rupert Murdoch and his son. It's no huge surprise that Lachlan Murdoch will serve as chairman and CEO.

Current 21st Century Fox CFO John Nallen will serve as the CFO of the new Fox.

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21st Century Fox chief financial officer John Nallen will take a broader position as chief operating officer, but no role for the group's current president, Peter Rice, was included in today's announcement.

It has been reported that he is likely to leave the new company after the deal with Disney goes through. Fox's film and entertainment franchises, which include "The Simpsons", "X-Men" and "Avatar", will be owned by Disney.

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. In this role, he works directly with the company's senior management and board of directors in developing global strategies and setting the overall corporate vision.

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