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In Move for 'Stability,' Fox News Co-presidents Sign Multi-Year Deals

Image: In Move for 'Stability,' Fox News Co-presidents Sign Multi-Year Deals

By    |   Wednesday, 14 Sep 2016 07:34 PM

Fox News co-presidents Jack Abernethy and Bill Shine have signed new long-term contracts in a move that's meant to promote calm and demonstrate the network is trying to move on from the Roger Ailes scandal.

Rupert Murdoch, whose News Corporation owns Fox News, made the announcement on Wednesday.

The deals will ensure "stability and leadership to help guide the network for years to come," said Murdoch, the executive chairman of Fox News, Fox Business Network, and 21st Century Fox.

The contract terms were not disclosed.

Last month, Murdoch appointed the two veteran Fox News executives to lead the network after the July departure of Ailes, the network's now former CEO, following sexual harassment allegations from several women who worked at the cable news giant.

Shine, who had been one of Ailes' top deputies, now runs editorial operations for Fox News and Fox Business Network. Abernethy runs Fox's stable of 28 local stations while overseeing business operations for the two networks. Both report to Murdoch.

Fox News took another hit last week when Greta Van Susteren, who first joined the station in 2002, announced she was leaving. That threw another wrench into the Fox News cog.

According to The New York Times, the contracts handed to Shine and Abernathy prove the network is trying to move forward on a stable platform of proven leadership. Before Wednesday, it wasn't clear whether the pair would only hold down their new positions through the November election.

Lachlan Murdoch, the chairman of 21st Century Fox, said Fox News will not deviate much from its successful formula under its new management team.

"It would be foolish of us if you think about the success of Fox News both in its positioning, and the voice that it has," Murdoch said Wednesday during an investor conference, reports the Times. "And then you think about where our competitors sit, whether CNN or MSNBC or others, it would be foolish of us to copy a failed strategy as opposed to sticking with a winning strategy. I don't foresee any changes at all in the positioning of Fox News or the voice it projects."

Information from the Associated Press was used in this report.

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Fox News co-presidents Jack Abernethy and Bill Shine have signed new long-term contracts in a move that's meant to promote calm and demonstrate the network is trying to move on from the Roger Ailes scandal.Rupert Murdoch, whose News Corporation owns Fox News, made the...
US, TV, Fox News Execs Re, up
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2016-34-14
Wednesday, 14 Sep 2016 07:34 PM
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