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Rupert Murdoch's son Lachlan to become Fox CEO after Disney deal


(Reuters) - Twenty First Century Fox's James will be succeeded by his brother as once the company's TV and film assets are acquired by Walt Disney Co, Fox said on Wednesday.

and his father Rupert will serve as co-chairmen of the new Fox, while will also take the role of

Fox agreed last year to sell the bulk of its film and TV assets to Walt Disney in a $52.4 billion deal. It expects to ask shareholders for approval of the transaction this summer.

The company has declined to comment on reports that is preparing a rival all-cash offer for the same Fox assets.

The new Fox will house assets including Fox News, Fox Network and sports cable networks, the company said.

(Reporting by in Bengaluru; Editing by Anil D'Silva)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 22:20 IST