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Lachlan Murdoch set to become chairman and CEO of 'New Fox'

Lachlan Murdoch set to become chairman and CEO of 'New Fox'

21st Century Fox has unveiled the executive structure of the proposed "New Fox" group in the USA, which will be formed if a proposed buyout of its other assets by Disney goes ahead.

"The new Fox will begin as the only media company exclusively focused on the domestic market; focused on what Americans love best - sports, news and entertainment, built and delivered for a United States audience", said Rupert Murdoch.

Nallen said: "The opportunity to reshape a business strategy and an operational approach uniquely tailored to the new Fox is truly compelling".

Fox agreed previous year to sell the bulk of its film and TV assets to Walt Disney in a $52.4 billion deal. Disney also gets a shot at National Geographic, FX and FXX, and even a 30 per cent interest in Hulu, which gives it a controlling stake in the USA streamer.

21st Century Fox has unveiled the new management team for the proposed new Fox company, which will be formed after shareholder and regulatory approval of the proposed transaction between 21CF and The Walt Disney Company. Sources told CNNMoney last week that Comcast is in talks to make its own, higher bid for the business that Disney wants to buy.

"New" Fox has named its senior leadership team.

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There was no mention of Lachlan's brother James Murdoch in the Wednesday morning memo.

Rupert Murdoch is one of the most powerful and influential media figures in the industry. The future of his vast holdings has always been debated within the industry.

After Lachlan Murdoch essentially left the family media empire in 2005, the answer appeared to be James.

The new Fox will consist of the Fox News Channel, which is the top-rated cable news channel in the country, as well as the Fox Business Network and the Fox Broadcasting Company.

In recent months, James has distanced himself from the politics espoused by his father and the company's flagship channel, Fox News. He's expected to move on after the deal with Disney is completed, pursuing his interests in areas such as technology investments. Instead, James will be launching his own venture.


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