After the completion of 21st Century Fox's sell-off to Walt Disney, Lachlan Murdoch will replace his younger brother James as CEO of the remaining business. It's not clear whether he will take a post at Disney.
It will own broadcasting rights to the National Football League (NFL), Major League Baseball, the football world cup and motor sport brand Nascar.
The executive will assume both the CEO and chairman jobs at the company, which is being referred to as New Fox.
While that latter portion of 21st Century Fox would end up as part of the Walt Disney Company should the deal be approved; the former asset is, as we said before, part of that list of "new" Fox properties.
21st Century Fox has unveiled the executive structure of the proposed "New Fox" group in the U.S., which will be formed if a proposed buyout of its other assets by Disney goes ahead.
Rupert added: 'The new Fox will begin as the only media company exclusively focused on the domestic market; focused on what Americans love best - sports, news and entertainment, built and delivered for a U.S. audience'. "I look forward to joining Lachlan as we begin to establish new Fox", said Nallen.
Comcast, the largest United States cable channel, is said to be preparing financing for a potential counterbid for the Fox operations. He works directly with the company's senior management and board of directors in developing global strategies and setting the overall corporate vision.
According to the announcement, Fox chief financial officer John Nallen will take on the role of chief operating officer as a result of the transaction.
Murdoch has spent the past two decades building, operating and investing in numerous world's most prominent television and publishing businesses. He is also co-chairman with his father of News Corp, home of the family's newspaper holdings.