The deal will keep Ailes in charge of Fox News Channel, Fox Business Network, the Fox Stations Group and syndicator 20th Television into 2017. His last contract, which was sealed in November 2008, was due to expire next year.
Rumors of Ailes seeking a new deal started with an interview he gave to Kurtz, which the media reporter called a “last hurrah.” In September of this year, Gabe Sherman reported that Ailes and News Corp. had begun discussions on a new contract.
Update: It’s official, release after the jump.
Roger Ailes Signs New Four-Year Contract with News Corporation
NEW YORK–(BUSINESS WIRE)–News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) today announced that Roger Ailes has signed a new four-year contract to continue serving as Chairman & CEO of Fox News, and Chairman of Fox Television Stations. Mr. Ailes, who first joined News Corporation in 1996, will continue to oversee Fox News, Fox Television Stations (FTS), Fox Business Network (FBN), Twentieth Television and MyNetwork TV. He will also continue in his role as a senior advisor to Chairman and CEO Rupert Murdoch on television and news matters.
In October 1996, Mr. Ailes launched Fox News Channel, which today is one of the top cable networks in the industry.
About News Corporation
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of June 30, 2012 of approximately US$57 billion and total annual revenues of approximately US$34 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.