21st Century Fox Inc. Executive Chairman Rupert Murdoch tapped two Fox News veterans as co-presidents of the cable news network following the departure of Roger Ailes, who resigned as the network’s chief executive last month amid allegations he sexually harassed employees.
Bill Shine is currently the senior executive vice president of programming for Fox News and Fox Business, and Jack Abernethy is a former executive vice president of Fox News and current chief executive of Fox’s TV station group.
The pair will report to Mr. Murdoch, who assumed the role of chairman and acting CEO of Fox News after Mr. Ailes departed.
The company also said Fox News’s chief financial officer, Mark Kranz, is retiring. A 21st Century Fox internal inquiry into Mr. Ailes’s , which is being led by the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP, found that Mr. Kranz was involved in executing settlement payments to women who had complained about harassment by Mr. Ailes, according to people familiar with the situation.
Mr. Kranz couldn’t be reached for comment.
One former Fox News employee, Laura Luhn, received a settlement of $3.15 million in 2011, people familiar with the matter said.
21st Century Fox has said top Fox managers weren’t aware of that payment until recently.
Fox’s probe has been examining the role others at the company may have played with regards to Mr. Ailes’s alleged misconduct. It has also unearthed new allegations against Mr. Ailes.
The number of women who have come forward to investigators reaches into the double-digits, and 21st Century Fox is anticipating paying some settlements, people familiar with the matter have said.
Mr. Ailes has denied all claims that he harassed Fox News employees.
In tapping Mr. Shine, 53, and Mr. Abernethy, 60, Mr. Murdoch is sending a signal that he isn’t looking to dramatically overhaul the formula behind Fox News.
Mr. Shine has overseen much of the programming and production for Fox News since its launch in 1996 and is primarily responsible for its prime-time lineup of right-leaning commentary shows. Mr. Murdoch said Mr. Shine has “developed and produced a signature prime time that dominated the cable news landscape.”
Mr. Abernethy, who had been at Fox News on day one, will oversee all the business operations for the channel including finance, advertising sales and distribution. Mr. Murdoch said Mr. Abernethy has a “strategic vision and deep knowledge of the cable news business.” He will also remain in charge of Fox’s local television stations.
While Mr. Murdoch is putting new management in place less than one month after Mr. Ailes’s departure, the 85-year-old mogul still plans to be involved in the day-to-day operations for the foreseeable future. 21st Century Fox isn’t likely to name a new permanent Fox News CEO for the foreseeable future, one of the people said.
The Murdoch family is a major shareholder in 21st Century Fox and Wall Street Journal-owner News Corp.
Corrections & Amplifications:
Jack Abernethy was named co-president of Fox News Channel. An earlier version of this article incorrectly spelled his last name in the seventh paragraph.
[Source: The Wall Street Journal]
