Bloomberg News

21st Century Fox’s Carey Signs 2-Year Contract Extension

June 09, 2014

Chase Carey, 21st Century Fox (FOXA:US) Inc.’s president and chief operating officer, signed a two-year contract extension through June 2016.

Carey has the option of stepping down at the end of 2015, while remaining a consultant through the contract’s end, according to a filing today by the New York-based media company.

The arrangement keeps Carey in place as the No. 2 executive at Fox while providing flexibility for a potential transition under controlling shareholder Rupert Murdoch, who is chairman and chief executive officer. Murdoch’s son James, 41, was promoted to co-chief operating officer in March, after serving as deputy COO. Murdoch, 83, has said publicly he wants his children to succeed him.

Nathaniel Brown, a spokesman for Fox, had no comment beyond a statement confirming the contract extension.

This year, Lachlan Murdoch, 42, was named non-executive co-chairman of both 21st Century Fox and News Corp. (NWSA:US), the publishing business also controlled by his father. The two companies split in 2013.

Fox rose less than 1 percent to $36.21 at the close in New York. The shares have risen 3 percent this year.

To contact the reporter on this story: Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net Anne Reifenberg


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Companies Mentioned

  • FOXA
    (Twenty-First Century Fox Inc)
    • $38.51 USD
    • 0.76
    • 1.97%
  • NWSA
    (News Corp)
    • $15.22 USD
    • 0.20
    • 1.31%
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