21st Century Fox has announced that Lachlan Murdoch will serve as chairman and CEO of the proposed “new Fox” following the deal with The Walt Disney Company, while Rupert Murdoch will serve as co-chairman and John Nallen takes on a broader role as COO.
Lachlan Murdoch has served as executive chairman of 21st Century Fox since 2015. He works directly with the company’s senior management and board of directors in developing global strategies and setting the overall corporate vision. He also currently serves as co-chairman of News Corp and executive chairman of NOVA Entertainment, an Australian media company.
Rupert Murdoch will serve as co-chairman of the new Fox, alongside Lachlan.
Nallen is currently senior executive VP and chief financial officer for 21st Century Fox, a role which he assumed in 2013. He joined the company (when it was known as News Corporation) nearly 25 years ago.
“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 chief operating officer, 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.”
“The new Fox will begin as the only media company solely focused on the domestic market; focused on what Americans love best—sports, news and entertainment, built and delivered for a U.S. audience,” said Rupert Murdoch.
“The opportunity to reshape a business strategy and an operational approach uniquely tailored to the new Fox is truly compelling,” said Nallen. “I look forward to joining Lachlan as we begin to establish new Fox.”