Fox News CEO Roger Ailes, 75, has signed a multi-year contract to lead the network past 2016, which is when his current contract expires.
“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,” said a Thursday statement by Rupert Murdoch, chairman of Fox’s parent company 21st Century Fox. “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.”
Lachlan and James are the sons of Rupert. James will become the 21st Century Fox’s executive co-chairman with Rupert at the start of July.
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“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,” Ailes said in a statement. “I look forward to working with Rupert, Lachlan and James to do my part to help bring 21st Century Fox well into the future.”
Fox News launched as a competitor to CNN in 1996. Since then, under Ailes’ leadership, it has become the highest rated cable news channel and is reported to be a major revenue driver for 21st Century Fox.
