Lachlan Murdoch, not James, will lead new Fox company

Lachlan Murdoch Succeeds Brother at Fox

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.

Fox agreed past year to sell the bulk of its film and TV assets to Walt Disney in a $52.4 billion deal.

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.

The formal annointment of Lachlan Murdoch comes as younger brother James Murdoch, 45, is reported to be looking at starting a venture capital fund to invest in digital and global media businesses once the $52.4bn Fox-Disney deal is completed.

The position of current 21st Century Fox CEO James Murdoch, younger brother of Lachlan Murdoch, is unclear.

John Nallen, who previously served as chief operating officer of 21st Century Fox, will now serve in the same role at the new company.

Suspect shot after exchange of gunfire at Dixon High School, officials say
Wednesday inside the school at 300 Lincoln Statue Drive, according to Danny Langloss, the Dixon city manager. Preliminary investigation shows the suspect shot at the officer and the officer then returned fire.

After Lachlan Murdoch essentially left the family media empire in 2005, the answer appeared to be James.

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

The Disney purchase is still pending approval from shareholders and regulators, and recent news has cast the fate of the Fox assets in doubt. Though the Disney deal gives his son less territory to command, it still includes significant sports, entertainment and news assets. Speculation about James at the time of the deal centered on a possible role at Disney, where CEO Bob Iger's contract had been slated to end in 2019, and an heir apparent was not in place.

Rupert Murdoch said Fox will be the only media company exclusively focused on the United States market and "on what America loves best-sports, news and entertainment".

Lachlan Murdoch has been Fox's executive chairman since 2015.

Rupert Murdoch will serve as co-chairman of the new Fox, alongside Lachlan. But Comcast submitted a higher bid for the business last month.

Related:

Comments

Latest news

EPA inspector general opens investigation of Pruitt's use of multiple email accounts
Udall said Perrotta wrote in the email that Pruitt had encouraged the use of the devices. Such decisions had made Pruitt and the EPA "a laughingstock", he added.

Samsung could sell Exynos chips to more OEMs, including ZTE
Samsung's semiconductor business reported an operating profit of 35.2 trillion won (a whopping £24.5 billion) in 2017. Samsung's System LSI business saw a 27 percent rise in shipments previous year , Counterpoint says.

Kim Kardashian Angers Fans By Promoting Appetite Suppressing Lollies
You bad and toxic influence on young girls", Jamil tweeted last night, next to a screenshot of Kim's lollipop ad. Kim Kardashian West has been called a "toxic influence" for posting an advert promoting a dieting lollipop.

Kellogg's latest U.S. brand to close door on Venezuela
The Battle Creek, Michigan-based company had already changed the way it counted results from that operation at the end of 2016. Authorities in Venezuela have seized a plant owned by the American cereal manufacturer Kellogg.

Malaysia Resets Goods and Services Tax to Zero From June 1, 2018
In general, the move was made possible due to the major victory that Pakatan Harapan has achieved in the recent General Election. GST isn't abolished but its current 6% rate will reduce to 0% effective 1 June 2018 nationwide until further notice.

Danny Rose: 'Give Mauricio Pochettino what he wants'
But you know me and sometimes I have some insane ideas. "In this type of situation, being fearless is the most important, and to take risks".

Chelsea may move for Spurs boss Mauricio Pochettino
In this type of situation, with a club with our unbelievable fans, being fearless is the most important, and to take risks.

Marcus Smart calls out JR Smith after Game 2
Not only is he arguably the world's most avid celebrity golfer , he might love the game we love more than anyone on this planet. You keep letting a bully keep picking on you, he's gonna keep picking on you until you finally stand up.

Haspel wins backing of Senate panel for Central Intelligence Agency post
During her confirmation hearing last week, Haspel said she wouldn't restart the interrogation program. Trump has said in the past that "torture works" and that he would consider using it again.

Amazon Opening Its Door to Blockchain After Signing New Partnership
Amazon Web Solution provides cloud computing services to individual, worldwide companies and government on subscription basis. Amazon joins a host of tech giants including Facebook and Microsoft to explore use cases for Blockchain .

AK Steel Holding Corporation (NYSE:AKS) Shares are -22.26% YTD, What's Next?
A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return. In terms of Buy, Sell or Hold recommendations, AK Steel Holding Corp ( NYSE : AKS ) has analysts' mean recommendation of 2.8.

Former Kentucky F Sacha Killeya-Jones announces he's transferring to ACC school
Killeya-Jones adds to a frontcourt that already features junior center Omer Yurtseven and junior forward Darius Hicks. Killeya-Jones should have the inside track as the starting center for NC State ahead of the 2019-20 season.

PM Abbasi accepts Turkish PM's invitation to participate in OIC Summit
The meeting will take place on May 18, government spokesman and Deputy Prime Minister Bekir Bozdag announced. Yildirim noted that Turkey sharply condemns Israel's actions directed against Palestinians.

AI-powered Google News app now available on iOS App Store
Google said last week that it plans to offer over 1,0000 magazine titles you can follow by tapping a star icon or subscribing to. In the app, the " For You " tab houses a rundown of stories that Google thinks you'll be interested in.

BSNL rolls out Rs 118 prepaid plan to take on Reliance Jio
And of course, once the limits are exhausted, the customers will be charged at the standard rates (10 paise per minute). Other telecom companies like Airtel and Idea Cellular are also offering some similar plans of Rs 99 and Rs 109.

Other news