Roger Ailes will remain Chairman and CEO of Fox News and Fox Business Network for the foreseeable future. He signed a multi-year deal to stay on at 21st Century Fox.
The deal was announced this morning by Rupert Murdoch and Murdoch’s sons Lachlan and James. Although Rupert Murdoch is poised to step down as 21st Century Fox CEO, Ailes will continue to report to him, as well as the two Murdoch sons. When Rupert Murdoch steps down, James will be named CEO.
“Nearly two decades ago, Roger took a bold idea rooted in the belief that there was room for more choice in cable news, and – much to all the naysayers’ surprise – through his development of vibrant programming and talent, created a behemoth of a business with one of the most passionate and engaged audiences in the history of television news,” Rupert Murdoch said in a statement. “Roger and I have always had, and will continue to have, a special relationship. Lachlan, James and I are delighted that Roger will be leading key businesses for us and our shareholders for years to come, and he has our unwavering support.”
Ailes added, “I am grateful to Rupert Murdoch for taking the risk on Fox News to see it become the number one 24-hour news network in America. I look forward to working with Rupert, Lachlan and James to do my part to help bring 21st Century Fox well into the future.”
Ailes has made the right-leaning Fox News the most-watched cable news network, a title the network has had since 2002. Ailes joined the company in 1996 after previously serving as CNBC President for three years.
While 21st Century Fox did not reveal how long the contract extension will last, sources told Variety that it will at least keep Ailes at the network through the 2016 presidential election and beyond. His current contract was set to expire next year and some suggested that he might not re-sign since he has disagreed with the Murdoch sons in the past.
screenshot from YouTube video