21st Century Fox: Lachlan Murdoch to serve as CEO of new 'Fox'
21st Century Fox (FOXA) announced that its Executive Chairman Lachlan Murdoch will serve as Chairman and CEO of the proposed new "Fox," which will be formed after shareholder and regulatory approval of the proposed transaction between 21CF and The Walt Disney Company (DIS). The company also announced that Rupert Murdoch will serve as Co-Chairman of the new Fox, alongside Lachlan Murdoch; and that John Nallen, 21CF's CFO, will take a broader role as new Fox's COO. The new Fox will be home to such branded properties as 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. "We have worked through the winter 'standing up' a reimagined independent Fox. The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities," said Lachlan Murdoch. "I am also personally very pleased that John has agreed to take on the role of COO, and together we look forward to making further announcements as to the management and structure of this new Fox as we get closer to closing our proposed transaction with Disney."