Tag: Lachlan Murdoch

Fox Corporation's Q1 revenues were largely stable at $3.21 billion, while net profit fell by 33 percent to $407 million amid higher expenses.

Fox Corporation and News Corporation have revealed that Rupert Murdoch is stepping down as chairman of each board, with Lachlan Murdoch to become the sole chair of News Corp and continue as executive chair and CEO of Fox.

Revenues at FOX Corporation rose by 5 percent in its fiscal Q1 to $3.19 billion, led by advertising revenue gains.

Fox Corporation generated Q4 revenues of $2.5 billion, a 5-percent increase from the prior-year quarter, with full-year revenues up 12 percent to $11.4 billion.

21st Century Fox has announced that Lachlan Murdoch will serve as chairman and CEO of the proposed "new Fox" following the deal with The Walt Disney Company, while Rupert Murdoch will serve as co-chairman and John Nallen takes on a broader role as COO.