- Rupert Murdoch has picked Roger Ailes' replacement for the leadership of Fox News and Fox Business (NASDAQ:FOX, FOXA -0.2%), naming Jack Abernethy and Bill Shine co-presidents of the networks.
- Abernethy is currently CEO of Fox Television Stations, while Shine is senior executive VP. The move is effective immediately.
- The two will report directly to Rupert Murdoch, and divide responsibilities for all facets of the two networks: Abernethy overseeing business components, including finance, ad sales and distribution units; Shine running programming and news functions.
- The decision is closely watched as Fox News was run tightly by Ailes, who resigned under a storm of sexual harassment allegations last month.
- Meanwhile, Fox News says CFO Mark Kranz will retire his role there and at Fox Business. He had joined the network from Viacom in 1997. Suzanne Scott is now executive VP of programming and development and will still report to Shine.