21st Century Fox has announced that Lachlan Murdoch will serve as chairman and CEO of the proposed "new Fox" following the deal with The Walt Disney Company, while Rupert Murdoch will serve as co-chairman and John Nallen takes on a broader role as COO.
Until now, Rupert and Lachlan Murdoch have shared the titled of executive chairman at Fox.
"We have worked through the winter "standing up" a reimagined independent Fox", Lachlan Murdoch said in the statement. "The strengths of the new company, a leader in News, Sports and Entertainment, present truly unique opportunities", said Lachlan Murdoch, 46.More news: EPA inspector general investigating Pruitt email accounts
John Nallen, who now serves as chief financial officer of 21st Century Fox, will move into the role of chief operating officer of New Fox, while Rupert Murdoch will serve as co-chairman of the new company.
The younger son, who now serves as chairman of Fox as well as the UK's Sky, had been expected to take up a senior position at Disney. John Nallen, now Fox's chief financial officer, will take on the expanded role of chief operating officer.
The new Fox company will be without 21st Century Fox's film and television studios, entertainment cable channels, a stake in streaming service Hulu and regional sports networks.More news: Police Officer Shoots Suspect Who Opened Fire At Dixon High School
Disney would acquire Fox's film and television studios, its FX and National Geographic cable networks, Fox's regional sports networks, its stakes Hulu and in United Kingdom pay TV provider Sky, as well as Star India.
The Murdochs are expected to spearhead the new, slimmer Fox once the deal shakes out.
Some earlier reports said James Murdoch might move to Disney following the deal.More news: Marcus Smart irked by Cavs 'bully' JR Smith's flagrant foul
Lachlan has served as executive chairman of 21st Century Fox since early 2015, when he and his younger brother James were named chairman and CEO, respectively, of their father's film and TV empire. The Wall Street Journal reported this month that James will not take a position with Disney after the Fox acquisition. But that began to change after Lachlan rejoined the business almost a decade later.