Fox News confirmed Tuesday that Tim Carry, the network executive responsible for securing critical carriage deals for Fox News Channel and Fox Business Network, is stepping down.
Carry, executive vice president for distribution at Fox News, has been in his post for 20 years. His exit was first reported by Variety.
Carry led every carriage deal for FNC and FBN since the networks’ launches, in 1996 and 2007, making Carry a key part of Fox’s overall financial success.
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Variety reports Fox News Channel is projected to generate $1.67 billion in affiliate revenue this year, compared to $952.8 million in net advertising revenue.