Roger Ailes has signed a new deal that keeps him at News Corp. for at least another five years.

"I'm pleased to continue to work for News Corporation. It is a strong and extremely well positioned company. I look forward to carrying out Mr. Murdoch's legendary vision in the future," says Ailes in a press release.

Ailes, 68, continues oversight of five News Corp. divisions including Fox News, Fox Business, Fox TV Stations, 20th Television and MyNetworkTV.

News Corp. chairman Rupert Murdoch singles out Ailes for his work creating FNC and FBN: "Roger has done a remarkable job building FOX News into a force in journalism and built a great asset for News Corporation. I have complete confidence in his talent and his editorial judgment. Under his leadership, I believe that FOX Business Network will become the strongest competitor in financial television news."

> More from TV Decoder's Brian Stelter: "Financial terms of the new agreement were not disclosed. Documents filed with the Securities and Exchange Commission last August indicated that Mr. Ailes earned almost $20 million last year."

The press release is after the jump...

NEWS CORPORATION SIGNS ROGER AILES TO NEW FIVE YEAR CONTRACT

New York - November 20, 2008 - Roger Ailes, Chairman and Chief Executive Officer, FOX News and Chairman of FOX Television Stations, has signed a new five year contract with News Corporation, it was announced today by Rupert Murdoch, Chairman and Chief Executive Officer. Mr. Ailes has been with News Corporation since 1996, the year he launched FOX News Channel (FNC).

In making the announcement, Mr. Murdoch said, "Roger has done a remarkable job building FOX News into a force in journalism and built a great asset for News Corporation. I have complete confidence in his talent and his editorial judgment. Under his leadership, I believe that FOX Business Network will become the strongest competitor in financial television news."

The new agreement states that Mr. Ailes will continue to oversee FOX News, FOX Television Stations (FTS), FOX Business Network (FBN), My Network TV and Twentieth Television. He will also continue serving as a senior advisor to Mr. Murdoch on television and news matters.

Mr. Ailes added, "I'm pleased to continue to work for News Corporation. It is a strong and extremely well positioned company. I look forward to carrying out Mr. Murdoch's legendary vision in the future."

During Mr. Ailes' tenure with News Corporation, FNC passed CNN in ratings in all day parts in 2002 to become the number one news network in the country, nearing full distribution with more than 90 million subscribers. In 2007, he launched FBN which currently reaches more than 40 million homes and served as the biggest launch in cable history. Throughout Mr. Ailes' tenure, FOX Television Stations has increased its market share each of the last three years with all time record shares in the last two years. In addition, FTS has expanded its local news presence by nearly 100 hours a week in a challenging economic climate.