Fox News Co-Presidents Sign Multiyear Pacts
September 14 2016 - 06:10PM
Dow Jones News
Fox News co-presidents Jack Abernethy and Bill Shine, who were
tapped to lead the network after the departure of Roger Ailes, have
signed multiyear contracts, 21st Century Fox Inc. said
Wednesday.
In a statement, Executive Chairman Rupert Murdoch said the deals
ensure "stability and leadership to help guide the network for
years to come." Mr. Murdoch promoted the two Fox News veterans in
August following the July departure of Mr. Ailes, who resigned as
the network's chief executive amid allegations he sexually harassed
employees. Mr. Ailes denied the allegations.
Mr. Murdoch has assumed the role of chairman and acting chief
executive officer of Fox News since Mr. Ailes left.
Mr. Shine, who had been senior executive vice president of
programming for Fox News and Fox Business, continues to run those
networks' programming and news functions.
Mr. Abernethy, who was chief executive of Fox's TV station
group, continues to oversee the stations while managing business
components of Fox News Channel and Fox Business Network.
Mr. Ailes was sued in July by longtime Fox News anchor Gretchen
Carlson, who alleged he retaliated against her after she rebuffed
his advances. After 21st Century Fox launched an internal inquiry,
several other women came forward alleging misconduct by Mr. Ailes.
The media giant settled Ms. Carlson's suit earlier this month for
about $20 million, a person with knowledge of the deal has said.
The company has settled with other women as well, an executive
close to the situation has said.
Fox News also said last month that Chief Financial Officer Mark
Kranz would retire.
21st Century Fox and News Corp, which owns The Wall Street
Journal, share common ownership.
There have been other changes inside Fox News since the scandal
erupted. The network said last month that Chief Financial Officer
Mark Kranz would retire. Anchor Greta Van Susteren said this month
she was leaving after 14 years, after exercising a clause that
voided her contract if Mr. Ailes left.
21st Century Fox said Aug. 3 that growth in its cable networks
contributed to a 7% revenue increase for the June quarter, to $6.65
billion, though higher expenses tied to movie releases and sports
programming cut into earnings.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 14, 2016 17:55 ET (21:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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