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Home / Business / Former Speaker of the House Paul Ryan joins the board of Fox Corporation

Former Speaker of the House Paul Ryan joins the board of Fox Corporation



Ryan and three other board members were appointed Tuesday. Appointing these directors was a necessary step when the Murdoch family broke up the Disney-Fox deal.

The Ryan agreement is the most remarkable, given its history near the top of Republican politics. Ryan and Rupert Murdoch have been friendly for many years. In 2014, he called Ryan as the presidential candidate he had "special admiration for."

The parts of Fox that are not bought by Disney form a new company, simply called Fox, which will be run by Rupert Murdoch's son Lachlan Murdoch.

Rupert wants to be co-chair of the company – a sign that he will remain in the middle of the fray's center.

Tuesday is the new Fox's first day as a stand-alone company acting on NASDAQ as FOXA and FOX.

The other new board members are Formula 1

leader Chase Carey, who has been a trusted Murdoch World Inspector for many years; Anne Dias;

Jacques Nasser was previously appointed to the board together with both Murdochs.

Some observers said that Ryan's agreement reflected the cozy relationship between Fox and the modern Republican party.

"The GOP / Fox merger is becoming more and more formalized. Trump looks at and promotes the undisclosed. Fox appoints Paul Ryan to the board," University of Michigan professor Brendan Nyhan tweeted.

Directors of the former iteration of 21st Century Fox earned about $ 300,000 in cash and equity each year, according to SEC archives. It is not known how much Ryan and the other board members of the newly formed Fox Corp. will do.

Jeanne Sahadi helped report.


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