Rupert Murdoch has signed the two co-presidents of Fox News and Fox Business to longterm contracts.
Last month, Jack Abernethy and Bill Shine were named co-presidents in the wake of Roger Ailes resignation in July. Today’s news gives those moves more permanence, even as Murdoch remains executive chairman of FNC and FBN.
“Jack and Bill have been instrumental in FOX News’ continued dominance in the ratings and historic earnings performance,” said Murdoch in a statement. “I am delighted they’ve each signed new deals, ensuring stability and leadership to help guide the network for years to come.”
At an investor conference in New York today, Lachlan Murdoch, who, along with his father is co-chairman of 21st Century Fox, said Fox’s mission will not change: “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, and then where our competitors sit, whether CNN, MSNBC or others, it would be foolish of us to pursue a failed strategy instead of sticking with a winning strategy,” Murdoch said.
Abernethy, who also oversees FOX’s TV station group, and Shine, who is a longtime senior executive at Fox News, will continue to divide responsibilities. Abernethy manages the business side while Shine runs all programming and news.
Shine began his career at FNC as producer of Hannity & Colmes when the network launched in October 1996. He rose through the ranks, under Ailes’ guidance, first as network executive producer, then vp of production, and ultimately evp of programming.