Lachlan Murdoch to head new Fox as chairman, CEO

Suzanne Scott has worked at Fox News since its inception more than two decades ago most recently as president of programming for Fox News and Fox Business

Twenty First Century Fox chief executive James Murdoch will leave the company and be succeeded by brother Lachlan once the company sells off its TV and film assets to Walt Disney Co., Reuters reports.

21CF executive chairman Lachlan Murdoch will serve as Chairman and Chief Executive Officer of the proposed new "Fox". While Lachlan is CEO and executive chair, there has been a new slot created: chief operating officer, which will be filled by John Nallen, the long-serving finance chief of Fox.

The new entity will be formed after shareholder and regulatory approval of the proposed transaction between 21CF and Disney.

The company remaining after the Disney sale will retain most of the company's television businesses: cable networks Fox News, Fox Business and Fox Sports, the nationwide FOX broadcast network; the TV stations group; and other sports networks, including FS1, FS2, Fox Deportes and Big Ten Network. It will hold rights to the NFL, MLB, World Cup and NASCAR.

Comcast, the largest USA cable channel, is said to be preparing financing for a potential counterbid for the Fox operations.

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

While that latter portion of 21st Century Fox would end up as part of the Walt Disney Company should the deal be approved; the former asset is, as we said before, part of that list of "new" Fox properties.

The new Fox, which depends on approval from regulators and shareholders, will mostly be focused on U.S. news and sport broadcasting.

'The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities. In this role, he works directly with the Company's senior management and Board of Directors in developing global strategies and setting the overall corporate vision.

21st Century Fox chief financial officer John Nallen will take a broader position as chief operating officer, but no role for the group's current president, Peter Rice, was included in today's announcement.

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