Lachlan Murdoch to be Fox's new boss
Twenty-First Century Fox's chief executive James Murdoch will leave the company and be succeeded by brother Lachlan, if the company proceeds with selling its TV and film assets to Walt Disney Co.
James, the younger son of the media tycoon Rupert Murdoch, decided months ago that he will pursue an opportunity of his own after quitting Fox.
Lachlan and Rupert Murdoch will serve as co-chairmen of the new Fox, which will retain its house assets Fox News, Fox Business Network and sports cable networks.
Fox agreed last year to sell the bulk of its film and TV assets to Walt Disney in a $US52.4 billion deal. It expects to ask shareholders for approval of the transaction this summer.
The company has declined to comment on reports that Comcast — the owner of NBCUniversal — is preparing a competing offer for the same Fox assets.
James Murdoch currently serves as chairman of Sky PLC, where he was earlier forced out for four years after a phone-hacking scandal.
Fox shares rose 0.8 per cent, while Disney lifted 2.1 per cent on this news.
http://www.abc.net.au/news/2018-05-17/wall-street-retail-rebound-australian-jobs-unemployment-asx/9770070?section=business