Lachlan Murdoch to serve as chairman, CEO of New Fox

Lachlan Murdoch to serve as chairman, CEO of New Fox

Lachlan Murdoch to serve as chairman, CEO 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".

This means Lachlan's brother James Murdoch, chief executive of 21st Century Fox, will not take on a new role. According to CNBC, Comcast was willing to offer $60B in cash to 21st Century Fox in hopes of acquiring the company and most of its media assets.

James Murdoch, Lachlan's 45-year-old brother, now helms Fox.

The deal with Disney, announced in December, was taken as a signal that Lachlan would be set up as his father's successor atop Fox.

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The deal with Disney is still a long way from being completed. But Iger went on to extend his contract through 2021.

Disney would acquire Fox's film and television studios, its FX and National Geographic cable networks, Fox's regional sports networks, its stakes Hulu and in United Kingdom pay TV provider Sky, as well as Star India. 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.

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. That would undoubtedly delay, if not derail, the Disney sale process and the formation of New Fox.

Rupert Murdoch added: "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 United States audience".

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21st Century Fox gave the first glimpse of its plans for the Fox network in the New Fox era on Monday when it presented its programming schedule to advertisers in NY.

John Nallen, Fox's current chief financial officer, will assume a broader role as chief operating officer.

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

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