Fox News CEO Roger Ailes signed a multi-year contract to remain at the helm of the 21st Century Fox unit, putting an end to speculation that he would walk.
The 75-year-old Republican political operative will continue to report to 84-year-old Rupert Murdoch. He was the driving force behind the launch of Fox. His contract was to expire during the summer.
With the recent elevation of Murdoch's sons,42-year-old James and 43-year-old Lachlan, Fox had announced that Ailes would report to that duo.
21st CF now says Ailes would report to the threesome.
The elder Murdoch said in a statement that he's had a "special relationship" with Ailes.
"Roger took a bold idea rooted in the belief that there was room for more choice in cable news, and – much to all the naysayers’ surprise – through his development of vibrant programming and talent, created a behemoth of a business with one of the most passionate and engaged audiences in the history of television news," said Murdoch.
Ailes' titles are chairman/chief of Fox News and Fox Business Network and chairman of Fox Television Stations.
Meanwhile, Fox decided not to renew the contract of Sarah Palin, Alaska's former governor and GOP VP candidate. Her pact expired June 1.
She'll make occasional appearances on Fox and continue with her program on the Sportsman Channel.
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