21st Century Fox appoints Lachlan Murdoch as CEO of new Fox
Staff Writer |
New York, N.Y., USA - 21st Century Fox announced that its executive chairman Lachlan Murdoch will serve as chairman and chief executive officer of the proposed new "Fox".
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New "Fox" will be formed after shareholder and regulatory approval of the proposed transaction between 21CF and The Walt Disney Company.
Mr. Murdoch has served as Executive Chairman of 21st Century Fox since 2015.
Mr. Murdoch has spent the past two decades building, operating and investing in many of the world's most prominent television and publishing businesses.
He also currently serves as Co-Chairman of News Corp and Executive Chairman of NOVA Entertainment, an Australian media company.
Prior to his current role, Mr. Murdoch served as Co-Chairman of 21st Century Fox beginning in March 2014 and has served the Company as a member of the Board of Directors since 1996, as well as in a number of senior executive roles from 1994-2005.
From 2000 – 2005, Mr. Murdoch served as Deputy Chief Operating Officer of 21st Century Fox (previously known as News Corporation), a role in which he was directly responsible for the Company's U.S. television stations group and publishing assets.
As part of his duties as Deputy Chief Operating Officer, he was Chairman of Fox Television Stations (FTS) and Publisher of the New York Post, and also oversaw HarperCollins and the Company's lines of business in Australia, including REA, Australia's leading online real estate business.
Mr. Murdoch led the Company's purchase of a controlling stake in REA.
At FTS, he oversaw the Company's 35 owned-and-operated television stations, where he raised the bar on local news coverage across the nation, increasing the total number of local news hours across the group to more than 850 per week.
At the New York Post, he overhauled the tabloid and grew its circulation by more than 40 percent.
During his tenure, the Post became the nation's fastest-growing newspaper and the seventh largest in the United States.
In 2005, Mr. Murdoch founded Illyria Pty, a successful private investment company.
In 2009, Illyria acquired 50 percent of DMG Radio, a network of radio stations, which later was renamed NOVA Entertainment.
After Mr. Murdoch became its Chairman in 2009.
In 2012, Illyria purchased the remaining 50 percent and, under Mr. Murdoch's leadership, NOVA Entertainment became Australia's leading network of FM stations.
Mr. Murdoch holds a B.A. from Princeton University.
John Nallen, 21CF's Chief Financial Officer, will take a broader role as new Fox's Chief Operating Officer.
Mr. Nallen is Senior Executive Vice President and Chief Financial Officer for 21st Century Fox, a role which he assumed in 2013.
Mr. Nallen oversees all of the Company's financial aspects including capital market and merger and acquisition transactions.
Mr. Nallen previously served as Executive Vice President and Deputy Chief Financial Officer, a position he held starting in 2001. ■