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.
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.
During the quarter, Macy's also made $24 million in gains on real estate sales and spent $19 million winding down Macy's China. The retailer's 4.2 per cent rise in same-store sales in the first quarter easily topped Wall Street's 1.4 per cent estimate .
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.
Many of you may remember the character from The Phantom Menace , he can be seen sitting next to Watto during the podrace scene. This can be used in your favor as a storyteller but instead it just made it hard to decide if I liked her or not.
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.
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.
A Forest Hill Excessive Faculty dad or mum informed FOX51 that her son took pictures of the harrowing acts with the animals. One parent said her son recorded the video, brought it home, showed it to her and she was "disgusted" by what she saw.
For its TV offering, Amazon Prime, Netflix and Sky TV's Now TV content will be made available on BT's platform. EE is also showcasing a prototype for a new category of converged broadband - EE Hybrid Broadband technology.
The team exhumed bodies and gathered more than 100 environmental samples now being analysed in different OPCW-designated labs. The FFM's report on the Saraqib incident has been shared with States Parties to the Chemical Weapons Convention.
The draft accord is likely to cause concern in Brussels and at European Central Bank headquarters in Frankfurt. In particular, it had been decided "not to call into question the single currency", they said.
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.
Symantec warns of more malicious apps on Android
It is based on a recent report that claimed the American tech giant Google harvests large amounts of data from Android devices. Oracle is also reported to have suggested to the ACCC that Google could also be accessing location data from the handsets.
East Coast rail to come back under public control
The East Coast was a successful public company between 2009 and 2014 returning over £1 billion to the Treasury. In February Grayling admitted the beleaguered East Coast mainline rail franchise had collapsed .
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.