Lachlan Murdoch Succeeds Brother at Fox

17 May, 2018, 03:51 | Author: Brooke Harris
  • Lachlan Murdoch

Lachlan Murdoch, a son of 21st Century Fox Executive Chairman Rupert Murdoch, has been named chairman and CEO of New Fox, which will launch after 21st Century Fox sells a considerable amount of its TV and entertainment holdings to Walt Disney Co.

Lachlan Murdoch has served as executive chairman of 21st Century Fox since 2015. The announcement doesn't say anything about what will happen to current Fox CEO James Murdoch, but Bloomberg reports that he is preparing to focus on his own endeavors in technology investments.

The deal with Disney, which was announced in December, will see Disney acquire assets such as European satellite TV company Sky, the Twentieth Century Fox film and TV studios, cable network FX, Indian satellite group Star India and a stake in streaming service Hulu.

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. It expects to ask shareholders for approval of the transaction this summer.

However, the announcement does bno acknowledge the Comcast's interest in making an unsolicited bid for Fox.

Michigan State University reach $724 million settlement with Nassar victims
The five hundred million dollar settlement is the largest payout for a sexual misconduct suit involving a university. His sentencing in state court this year drew worldwide attention as hundreds of his victims described their abuse.

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

There was no mention of Lachlan's brother James Murdoch in the Wednesday morning memo. And media observers have long debated which of his sons would ultimately inherit their father's company. "I look forward to joining Lachlan as we begin to establish new Fox".

Sky chairman James, 45, will not be involved in running a much smaller US-only company focused on news and sport.

He denounced President Donald Trump's reaction to the race-related violence in Charlottesville, Virginia, last August.

The widely expected move comes as Fox tries to complete the Disney deal, which involves selling about $US52 billion ($65 billion) of entertainment assets.

Recommended:



Popular

Karnataka results show what will happen in 2019 polls: Danve
Shiv Sena chief Uddhav Thackeray too challenged the BJP to go into an election with the ballot system. According to the Election Commission, BJP has now won 17 seats and is leading in 89.

Senate Committee Expected to Approve Haspel to Lead CIA
McCain, who has been away from Washington all year as he battles brain cancer, urged the Senate not to vote for Haspel. Haspel, the CIA's acting director, earned support from the top Democrat on the Intelligence Committee, Sen.

Marchessault lifts Golden Knight over Jets in playoffs
Game 2 was a different story, as Vegas clamped down on defense and Marc-Andre Fleury turned away Winnipeg's first 26 shots. The Jets and Golden Knights were tied 1-1 heading into Wednesday's Game 3, while the Caps were up 2-1 on the Lightning.

Ga. Senator, Gov. candidate says he's starting 'Deportation Bus' tour for 'illegals'
According to a Huffington Post article, Williams was the co-chair for President Trump's presidential campaign . Georgia's lieutenant governor, Casey Cagle, is expected to win the Republican primary.

The Apple drops for Samsung
Apple lawyer Bill Lee told jurors this week that their sole objective was to determine what damages the company should collect. It infringed three design patents and two utility patents awarded to Apple to cover early models of its popular smartphone.

At least 3 dead after Northeast storms; hundreds of thousands without power
Some residents were trapped in their homes by damage and debris and town leaders in some communities declared states of emergency. In New York , falling trees in Newburgh claimed the lives of an 11-year-old girl in a parked vehicle and a woman who was driving.

Rapper TI arrested in Henry County
Despite his legal issues, T.I. has been an advocate for social justice, in what the Journal-Constitution calls a "metamorphosis". The rapper reportedly did not have the key required to enter the community and was barred from entering at 4 a.m.

Congrats: Taraji P. Henson receives a Mother's Day proposal
He even questioned her during his recent visit to Atlanta, where the Cookie character was shooting her new film What Men Want . Henson , 47, recently said yes to a marriage proposal from boyfriend Kelvin Hayden , 34, former National Football League star.

Mizoram singer Sangtei Khuptong's song features in Hindi film Raazi
Raazi is reportedly an adaptation of Harinder Sikka's Calling Sehmat . "He wrote, " #Raazi shows EXCELLENT HOLD on Monday . Bollywood trade analyst Taran Adarsh took it to micro-blogging site Twitter to share the box office collection of Raazi .

Solo: A Star Wars Story is a Missed Opportunity
Vanity Fair said Solo is likely not the movie Lord And Miller would have made, but said Howard's version "knows its place". Jackson's Mace Windu, and Billy Dee Williams's Lando Calrissian .