January 22, 2019

No more Family Guy: James Murdoch to leave Fox after Disney deal

17 May 2018, 01:32 | Joann Bryant

Getty Images Suzanne Scott

Getty Images Suzanne Scott

Rupert will remain a co-chairman but James will leave the organization entirely once the deal is finalized to pursue other opportunities.

Another drama playing out has 21st Century Fox trying to acquire the 61 percent of Sky it doesn't already own, though European regulators have been dragging their collective feet deciding on the appropriateness of that deal.

The new Fox will include Fox News Channel, Fox Business Network, Fox Broadcasting Co., Fox Sports, Fox Television Group and cable sports channels.

John Nallen, Fox's current chief financial officer, will assume a broader role as chief operating officer. Fox is now trying to sell off $52 billion of TV and entertainment assets, and once the deal is finalized, the resulting company will be lead by Rupert Murdoch and his son. Time Warner, CNN's parent company, also owns a 10% stake.

The next phase is expected to take place in the summer when shareholders will be asked for their approval of the sell-off. Plus, Comcast recently said it wants to buy all of Sky for $31 billion.

The Murdochs are expected to spearhead the new, slimmer Fox once the deal shakes out.

There was no mention of him in either his brother or father's comments on the new leadership structure on Wednesday.

Rupert Murdoch is one of the most powerful and influential media figures in the industry.

After Lachlan Murdoch essentially left the family media empire in 2005, the answer appeared to be James. "I look forward to joining Lachlan as we begin to establish new Fox".

Fox News separately confirmed on Wednesday that it has reached a settlement with a group of former employees who had filed lawsuits that included allegations of racial and gender discrimination.

Disney would acquire Fox's film and television studios, its FX and National Geographic cable networks, Fox's regional sports networks, its stakes Hulu and in United Kingdom pay TV provider Sky, as well as Star India. But the Wall Street Journal reported last week that James would not join Disney, and instead would likely start a venture capital fund.

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