In a press release today, 21st Century Fox announced that the current Chairman and CEO of Fox News and Fox Business Network, Roger Ailes, will continue to serve in that capacity as the networks transition to the post-Rupert Murdoch era.
Ailes will be jointly reporting to Lachlan and James Murdoch, who were with their father when he made the announcement. "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," the eldest Murdoch said.
"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 issued a joint statement, saying that "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."
For his part, Ailes -- who prefers to be manipulating press events like this one from behind the scenes, said only that he is looking "forward to working with Rupert, Lachlan and James to do my part to help bring 21st Century Fox well into the future."
Given that the nature of the arrangement between Ailes and the Murdoch family remains essentially intact, those who believed the transfer of power from father to sons might spell the networks' demise will likely be disappointed by this public display of unity and comity.
Shares