Lachlan Murdoch to Be Chairman CEO of New Fox

Rupert Murdoch to be co-chairman
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Lachlan Murdoch

Lachlan Murdoch

21st Century Fox said Lachlan Murdoch will be chairman and CEO of the new Fox when it completes the sale of assets to The Walt Disney Co.

Rupert Murdoch will be co-chairman of the company, which will be focused on live news and sports.

21 Century Fox CFO John Nallen will be chief operating officer of the new company.

Related: James Murdoch Won’t Join Disney

"We have worked through the winter 'standing up' a re-imagined independent Fox," said Lachlan Murdoch. "The strengths of the new company, a leader in news, sports and entertainment, present truly unique opportunities. I am also personally very pleased that John has agreed to take on the role of chief operating officer, and together we look forward to making further announcements as to the management and structure of this new Fox as we get closer to closing our proposed transaction with Disney."

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