Roger Ailes Signs New Deal With 21st Century Fox
Well…so much for the kibitzing that Ailes might call it a day after the 2016 election. Roger Ailes just signed a new deal with 21st Century Fox. The timing of this is going to raise some eyebrows, coming so closely on the heels of of the changeover in management with Rupert Murdoch’s sons being installed in new positions. The obvious question to be raised will be “Did A beget B? Did Lachlan and James’ promotions force this deal into being consumated earlier than it would have been in order to calm the waters?”
NEW YORK–(BUSINESS WIRE)–21st Century Fox (NASDAQ: FOXA, FOX) today announced that Roger Ailes has signed a new multi-year contract with the Company to continue to serve as Chairman and CEO of Fox News and Fox Business Network, and Chairman of Fox Television Stations.
“I am grateful to Rupert Murdoch for taking the risk on Fox News to see it become the number one 24-hour news network in America. I look forward to working with Rupert, Lachlan and James to do my part to help bring 21st Century Fox well into the future.”
The announcement was made by Rupert Murdoch, Lachlan Murdoch and James Murdoch, to whom Mr. Ailes will jointly report.
Rupert Murdoch, 21st Century Fox’s Executive Co-Chairman as of July 1, commented: “Nearly two decades ago, Roger took a bold idea rooted in the belief that there was room for more choice in cable news, and – much to all the naysayers’ surprise – through his development of vibrant programming and talent, created a behemoth of a business with one of the most passionate and engaged audiences in the history of television news. Roger and I have always had, and will continue to have, a special relationship. Lachlan, James and I are delighted that Roger will be leading key businesses for us and our shareholders for years to come, and he has our unwavering support.”
Lachlan and James Murdoch, 21st Century Fox’s designated Executive Co-Chairman and CEO, respectively, commented: “Roger is an incredibly talented executive and we’re pleased he has accepted our offer to continue his extraordinary record of success at 21st Century Fox. We look forward to witnessing his energy and entrepreneurial drive in leading the next wave of growth for Fox News, Fox Business Network and Fox Television Stations, as well as many years of continued success together.”
Roger Ailes said: “I am grateful to Rupert Murdoch for taking the risk on Fox News to see it become the number one 24-hour news network in America. I look forward to working with Rupert, Lachlan and James to do my part to help bring 21st Century Fox well into the future.”