Lachlan Murdoch to take over as CEO of ‘new’ Fox – but fate of brother James is unclear

There was no mention of current Fox CEO James Murdoch in the announcement, which said Rupert Murdoch would serve alongside Lachlan as co-chairman of the slimmed-down media firm

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Rupert Murdoch in London with sons James, right, and Lachlan, on March 5, 2016. Photo: TNS

Published: 9:47am, 17 May 2018Updated: 8:42pm, 17 May 2018

Lachlan Murdoch will take on the role of chairman and chief executive officer of the “new” Fox – the slimmed down media company that will be created following the approval of the Walt Disney Co’s acquisition of the majority of 21st Century Fox assets.

He takes over from brother James Murdoch, the current CEO, whose name was conspicuously missing from Fox’s announcement on Wednesday. James Murdoch has worked alongside his sibling for years at their father’s media empire.

Their father, Rupert Murdoch, will assume the title of co-chairman of the company, while John Nallen, currently 21st Century Fox’s chief financial officer, will take a bigger role as chief operating officer.

It remains unclear if James Murdoch will have any role in the new company, though a recent Wall Street Journal report speculated that he will branch off to pursue his own ventures.

Lachlan Murdoch, seen on the red carpet at the 2018 Vanity Fair Oscar Party, will serve as chairman and CEO of the “new” Fox. Photo: TNS

In a statement, Rupert Murdoch said: “The new Fox will begin as the only media company solely focused on the domestic market; focused on what Americans love best – sports, news and entertainment, built and delivered for a US audience.”

The new Fox will consist of the Fox News Channel, which is the top-rated cable news channel in the country, as well as the Fox Business Network and the Fox Broadcasting Company. It will also focus heavily on sports, with such properties as Fox Sports and the sports cable networks FS1, FS2, Fox Deportes and Big Ten Network.