MUMBAI: After the exit of Roger Alies as the head of Fox News, 21st Century Fox executive chairman Rupert Murdoch has named Jake Abernethy and Bill Shine as co-presidents of Fox News. The two executives will report to Murdoch.
Abernethy comes from the less dramatic and political corner of the empire, Fox's network of local stations. He will oversee more of the business end now. Shine, earlier senior executive VP of programming for Fox News, will now focus on programming and editorial matters.
It has also come to our knowledge that Suzanne Scott has been promoted as executive vice president of programming and development for the network. She will continue to report to Shine. Fox News’ long-time chief financial officer Mark Kranz is retiring.
“Over his 19 years with Fox News, Mark Kranz was instrumental in increasing profitability across all of our key properties,” Murdoch said in a statement. “We are grateful for his many contributions to the company and we extend our best wishes to him as he embarks on a new chapter.”
Jay Wallace will continue to manage the news division as the executive vice president of news editorial. He will now report to Shine.
Both executives had previously reported to Ailes, and both had been widely speculated to be among the top internal contenders to replace Ailes.
“Jack was integral to the launch and success of Fox News nearly 20 years ago and we’re delighted he’s returning to take on this additional role,” Murdoch said in a statement. “As we continue to benefit from his strong leadership of Fox Television Stations, his strategic vision and deep knowledge of the cable news business will ensure continued growth of Fox News and Fox Business Network for generations to come.”
He added, “Bill Shine has developed and produced a signature primetime that has dominated the cable news landscape for 14 of his 20 years with Fox News. His leadership and keen eye for programming has played a fundamental role in the success of both, Fox News and Fox Business Network.”
The announcement of Shine and Abernethy’s promotion makes no mention of Murdoch’s sons, James Murdoch and Lachlan Murdoch. The elder Murdoch has been running Fox News on an interim basis since Ailes’ departure last month.
