Date
20 October 2018
Media mogul Rupert Murdoch is shown in this file photo with sons Lachlan (left) and James as they arrive at St Bride's Church in London for the father's wedding with former supermodel Jerry Hall on March 5, 2016. Photo: Reuters
Media mogul Rupert Murdoch is shown in this file photo with sons Lachlan (left) and James as they arrive at St Bride's Church in London for the father's wedding with former supermodel Jerry Hall on March 5, 2016. Photo: Reuters

Lachlan Murdoch to head 21st Century Fox after Disney deal

Twenty First Century Fox chief executive James Murdoch will leave the company and be succeeded by brother Lachlan once the company sells off its TV and film assets to Walt Disney Co., Reuters reports.

James, younger son of the media tycoon Rupert Murdoch, decided months ago that he will pursue an opportunity of his own after quitting Fox, a source familiar with the matter told the news agency on Wednesday.

Lachlan and Rupert Murdoch will serve as co-chairmen of the new Fox, while current chief financial officer John Nallen will also take the role of chief operating officer.

Fox agreed last year to sell the bulk of its film and TV assets to Walt Disney in a US$52.4 billion deal. It expects to ask shareholders for approval of the transaction this summer.

The company has declined to comment on reports that Comcast Corp. is preparing a rival all-cash offer for the same Fox assets.

The new Fox will house assets including Fox News, Fox Business Network and sports cable networks, the company said.

James Murdoch currently serves as chairman of Sky PLC, where he was earlier forced out for four years after a phone-hacking scandal.

– Contact us at [email protected]

CG

EJI Weekly Newsletter

Please click here to unsubscribe