CEO Monthly Issue 5 2018

28 CEO MONTHLY / ISSUE 5 2018 , 21st Century Fox announced on the 16th May 2018 that its Executive Chairman Lachlan Murdoch will serve as Chairman and Chief Executive Officer of the proposed new “Fox,” which will be formed after shareholder and regulatory approval of the proposed transaction between 21CF and The Walt Disney Company. The Company also announced that Rupert Murdoch will serve as Co-Chairman of the new Fox, alongside Lachlan Murdoch; and that John Nallen, 21CF’s Chief Financial Officer, will take a broader role as new Fox’s Chief Operating Officer. The new Fox will be home to such iconic branded properties as Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network. It will house the #1 cable news channel in the country, and a stations group in 9 of the 10 largest metro areas in the US. Its broadcasting and cable sports brands will have coveted, long- term sports rights to the NFL, MLB, World Cup soccer and NASCAR. “We have worked through the winter ‘standing up’ a reimagined independent Fox. The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities,” said Lachlan Murdoch. “I am also personally very pleased that John has agreed to take on the role of Chief Operating Officer, and together we look forward to making further announcements as to the management and structure of this new Fox as we get closer to closing our proposed transaction with Disney.” “The new Fox will begin as the only media company solely focused on the domestic market; focused on what Americans love best – sports, news and entertainment, built and delivered for a US audience,” said Rupert Murdoch. “The opportunity to reshape a business strategy and an operational approach uniquely tailored to the new Fox is truly compelling,” said John Nallen. “I look forward to joining Lachlan as we begin to establish new Fox.” Lachlan Murdoch has served as Executive Chairman of 21st Century Fox since 2015. In this role, he works directly with the Company’s senior management and Board of Directors in developing global strategies and setting the overall corporate vision. Mr. Murdoch has spent the past two decades building, operating and investing in many of the world’s most prominent television and publishing businesses. He also currently serves as Co-Chairman of News Corp and Executive Chairman of NOVA Entertainment, an Australian media company. Senior Leadership Named for the Proposed New Fox LachlanMurdoch to serve as Chairman and Chief Executive Officer. Prior to his current role, Mr. Murdoch served as Co-Chairman of 21st Century Fox beginning in March 2014 and has served the Company as a member of the Board of Directors since 1996, as well as in a number of senior executive roles from 1994-2005. From 2000 – 2005, Mr. Murdoch served as Deputy Chief Operating Officer of 21st Century Fox (previously known as News Corporation), a role in which he was directly responsible for the Company’s U.S. television stations group John Nallen