Monday, 21 May, 2018

Lachlan Murdoch ascends as CEO and chairman of new Fox company

Lachlan Rupert and James Murdoch Lachlan Murdoch in line for chief executive job at Fox after Disney deal
Nellie Chapman | 16 May, 2018, 22:45

John Nallen, now CFO of 21st Century Fox, will serve as chief operating officer of New Fox. Wednesday's announcement also fails to address questions about the fate of myriad other executives including current 21st Century Fox co-president Peter Rice and Fox Television Group chairs Dana Walden and Gary Newman.

"We have worked through the winter "standing up" a reimagined independent Fox".

The younger son, who now serves as chairman of Fox as well as the UK's Sky, had been expected to take up a senior position at Disney.

John Nallen, who now serves as chief financial officer of 21st Century Fox, will move into the role of chief operating officer of New Fox, while Rupert Murdoch will serve as co-chairman of the new company.

Fox CEO James Murdoch isn't mentioned as part New Fox's leadership but is widely expected to leave Fox to do his own thing.

John Nallen, the company's current chief financial officer, will take a bigger role at New Fox as chief operating officer. But reigning Disney CEO Bob Iger has conspicuously failed to offer specifics of any potential role. 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.

The deal with Disney, which was announced in December, will see Disney acquire assets such as European satellite TV company Sky, the Twentieth Century Fox film and TV studios, cable network FX, Indian satellite group Star India and a stake in streaming service Hulu. As expected, the new-model Fox Broadcasting Co. will emphasize live sports and events. I also like to think, and again I don't know anything, I'm not an executive over there, but I like to think that the acquisition of Fox, by whether be it Comcast, Disney, or Myspace for fuck's sakes, I like to think that whoever buys Fox is buying it to keep intact, and to allow it to be its own entity. But that began to change after Lachlan rejoined the business almost a decade later.