Fox Corp. Hires Former House Speaker Paul Ryan

Rupert Murdoch’s 21st Century Fox spun off some of his various television assets Tuesday, which includes the Fox News Channel and Fox broadcast network, to form a new company known simply as Fox Corp.

The freshly minted company includes former House Speaker Paul D. Ryan (R-Wis.), who openly served as top RINO from October 2015 to January 2019.

Just last week Ryan-o took a swipe at our President, probably a fist bump to the Murdoch clan. FYI: Murdock is an open borders advocate and was a supporter of Obamacare.

Now Ryan will help oversee the parent of Fox News — Trump’s favorite news network.

Fox’s other board members are Murdoch; his oldest son, Lachlan Murdoch, who is also the company’s chairman and chief executive; Anne Dias, founder and CEO of media investment firm Aragon Global Holdings; Chase Carey, a former Fox executive who is chairman and CEO of Formula 1 racing; Roland A. Hernandez, a former chief of Spanish-language network Telemundo; and Jacques Nasser, former head of Ford Motor Co. and a longtime Murdoch associate.

The spinoff completed early Tuesday is part of a multipronged process that will culminate with the $71.3-billion sale of the rest of Murdoch’s entertainment company to Walt Disney Co. The company announced that it had finished the process of issuing shares in the new Fox Corp. to investors of 21st Century Fox.

The new Fox is now a standalone, publicly traded company. Its shares are listed on the Nasdaq market; Tuesday marked their first day of trading. The Class A shares fell 3.3% to close at $40.34.

The 88-year-old Murdoch and his family decided in late 2017 to break up their entertainment empire, and Disney was the Australian mogul’s preferred suitor. The Disney portion of the deal is expected to be complete late Tuesday night when the Burbank entertainment giant swallows the bulk of the Fox assets.

The new incarnation of Fox — with headquarters in New York and Los Angeles — is a slimmer version of the old Fox.

Its assets include Fox News Channel; Fox Business Network; two national Fox Sports channels, FS1 and FS2; the Fox Broadcasting network; and Fox’s group of television stations, including KTTV Channel 11 and KCOP Channel 13 in Los Angeles.

The reconfigured Fox Corp. will emphasize live programming, with NFL prime-time games on Thursday nights and WWE’s “Smackdown” on Fridays. With a growing number of viewers watching scripted dramas and comedies on a delayed basis, Fox is seeking more commercials that reach consumers with greater immediacy.

A report came out yesterday that alleges two Fox News hosts secretly worked to get Judge Jeanine Pirro taken off the air.

For more on that turn to THIS PAGE.

Source: LA Times


One Response

  1. Donna Watson

Leave a Reply

Pin It on Pinterest