Lachlan Murdoch to be 'New Fox' CEO

Lachlan Murdoch to serve as chairman and CEO of 'new' Fox

Current Executive Chairman Lachlan Murdoch will be Chairman and CEO at New Fox, and Rupert Murdoch will serve as co-chairman.

"We have worked through the winter "standing up" a reimagined independent Fox", said Lachlan Murdoch in a statement. "The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities", said Lachlan Murdoch, 46.

John Nallen, now CFO of 21st Century Fox, will serve as chief operating officer of New Fox. It's not clear whether he will take a post at Disney.

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. But Iger went on to extend his contract through 2021.

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The New Fox will revolve squarely around TV assets including the Fox Broadcasting Co. network and its TV station group, and the Fox News and Fox Sports operations. 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. 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.

Further complicating matters United States media company Comcast launched its own £22bn for Sky in April, which caused Sky to withdraw its recommendation to its shareholders to accept the previous Fox offer. That would undoubtedly delay, if not derail, the Disney sale process and the formation of New Fox.

The Murdochs are expected to spearhead the new, slimmer Fox once the deal shakes out.

John Nallen, the current company's CFO, will become COO of new Fox. "I look forward to joining Lachlan as we begin to establish new Fox".

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