Fox News Names Jack Abernethy and Bill Shine Co-Presidents

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Fox News Channel overhauled its management Friday by naming two internal executives as co-presidents of the news network, a move aimed at stabilizing operations following the recent departure of its founder and former CEO, Roger Ailes, after a sexual harassment lawsuit.

Jack Abernethy, CEO of Fox Television Stations, and Bill Shine, senior executive vice president of Fox News, were named to the positions, effective immediately. They will report directly to Rupert Murdoch, co-executive chairman of the board of 21st Century Fox, the parent company of Fox News and Fox Television Stations.

Mark Kranz, Fox News’ chief financial officer who joined the company in 1997, will retire, Fox said.

Ailes, who was chairman and CEO of Fox News and Fox Business Network (FBN), left last month with a $40 million severance package after Gretchen Carlson, a former Fox News broadcaster, sued him for sexual harassment. She said her contract wasn’t renewed in June after she refused Ailes’ sexual advances. Ailes has denied the charges.

After Ailes left, Murdoch took on his titles on an interim basis. 21st Century Fox said Murdoch will remain executive chairman of Fox News and FBN, but is no longer the acting CEO. 21st Century Fox didn’t immediately comment if Fox News will hire a permanent CEO.

Abernethy, who will continue to run Fox’s 28 owned and operated TV stations, will oversee Fox News and FBN’s business functions, including finance and advertising sales. He is familiar with Fox News, having previously worked at the network as an executive vice president and launched Fox News Radio.

Shine will run programming and news functions of the networks, including production and talent management.

Suzanne Scott, who was senior vice president of programming and development, was promoted to executive vice president of programming and development, supervising its opinion shows and new shows. Jay Wallace, who was named executive vice president of news editorial earlier this year, will continue to run the news division.

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Source: USA Today | Roger Yu