Lachlan Murdoch to be New Fox CEO after proposed Disney deal

Lachlan Murdoch

"The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities", Lachlan Murdoch said.

John Nallen, Fox's current chief financial officer, will assume a broader role as chief operating officer.

While Rupert Murdoch has not withdrawn from the companies, he has been gradually turning over more authority to his sons Lachlan and James, who now is CEO at 21st Century Fox.

It was not immediately clear what if any role James Murdoch would play at the new Fox, but the Wall Street Journal reported he is likely to start a venture fund investing in digital and global media.

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Some earlier reports said James Murdoch might move to Disney following the deal. The 46-year-old previously served as co-chairman and held various roles within his father's empire, including chairman of Fox TV stations and publisher of the New York Post. The Wall Street Journal reported this month that James will not take a position with Disney after the Fox acquisition.

The deal with Disney, which was announced in December, will see Disney acquire assets such as European satellite TV company Sky, the Twentieth Century Fox film and TV studios, cable network FX, Indian satellite group Star India and a stake in streaming service Hulu.

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. That would undoubtedly delay, if not derail, the Disney sale process and the formation of New Fox.

21st Century Fox gave the first glimpse of its plans for the Fox network in the New Fox era on Monday when it presented its programming schedule to advertisers in NY. Though the Disney deal gives his son less territory to command, it still includes significant sports, entertainment and news assets. "I look forward to joining Lachlan as we begin to establish new Fox".

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