Lachlan Murdoch to serve as chairman, CEO of New Fox

Lloyd Doyle
May 16, 2018

Lachlan Murdoch will serve as chairman and CEO of New Fox, the new company to be formed after 21st Century Fox sells much of its TV and entertainment holdings to the Walt Disney Co.

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. "I am also personally very pleased that John has agreed to take on the role of Chief Operating Officer, and together we look forward to making further announcements as to the management and structure of this new Fox as we get closer to closing our proposed transaction with Disney".

The new Fox company will be without 21st Century Fox's film and television studios, entertainment cable channels, a stake in streaming service Hulu and regional sports networks.

It was not immediately clear what if any role James Murdoch would play at the new Fox, but the Wall Street Journal reported he is likely to start a venture fund investing in digital and global media.

The plan announced past year, which remains subject to regulatory approval, would give Disney the vaunted Fox Hollywood film and television studios, cable entertainment networks and worldwide TV businesses. Sources told CNNMoney last week that Comcast is in talks to make its own, higher bid for the business that Disney wants to buy. Though the Disney deal gives his son less territory to command, it still includes significant sports, entertainment and news assets.

Rupert Murdoch is one of the most powerful and influential media figures in the industry.

However, James Murdoch will not walk away empty-handed. But that began to change after Lachlan rejoined the business almost a decade later. This was notable because his father speaks with Trump often. He's expected to move on after the deal with Disney is completed, pursuing his interests in areas such as technology investments.

Other reports by Iphone Fresh

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