Rupert Murdoch will assume the role of chairman and acting CEO of Fox News Channel and Fox Business Network after the resignation of cable news titan Roger Ailes.
Mr Ailes was facing a sexual harassment lawsuit filed by former anchor, Gretchen Carlson, who claimed her career was sabotaged as a result of raising allegations over the behaviour of Mr Ailes towards her.
Mr Murdoch, who co-founded Fox News with Mr Ailes in 1996 and is co-executive chairman of parent 21st Century Fox, thanked the now-former Fox News chief for his “remarkable contribution to our company and our country”.
“Roger shared my vision of a great and independent television organisation and executed it brilliantly over 20 great years,” Mr Murdoch said in a statement.
“Fox News has given voice to those who were ignored by the traditional networks and has been one of the great commercial success stories of modern media.
“It is always difficult to create a channel or a publication from the ground up and against seemingly entrenched monopolies. To lead a flourishing news channel, and to build Fox Business, Roger has defied the odds.
“His grasp of policy and his ability to make profoundly important issues accessible to a broader audience stand in stark contrast to the self-serving elitism that characterises far too much of the media.”
Mr Murdoch said he was personally committed to ensuring Fox News remains a distinctive and powerful voice with the support of the existing management team.
Lachlan Murdoch, 21st Century Fox’s co-executive chairman, and James Murdoch, chief executive, joined their father in thanking Mr Ailes’ contribution to the company.
Mr Ailes’ resignation is effective immediately.
Print ads bolster effectiveness of ad campaigns.
Advertising with newspapers increases overall revenue return on investment by three times, according to a study released this month by UK industry body Newsworks.
The study was conducted by consultancy Benchmarketing and comprised of meta-analysis of data from more than 500 econometric models built over the last five years, covering six categories.
It found adding newspapers increased the effectiveness of campaigns across a range of categories including:
- Retail, which increased by 2.8 times
- Finance, which increased by 5.7 times and
- Travel, which increased by 3 times
A number of senior client and agency figures welcomed the study including Claire Harrison-Church, vice president of marketing at Asda.
“News brands are a crucial part of Asda’s marketing mix because they provide us with an influential and flexible platform that we use to inform and inspire our customers,” she said.
“The ultimate goal of our comms is to deliver returns and this large-scale study allows us to continue to invest with confidence. Retailers know that adding news brands to a campaign increases the effectiveness of other media – here we have the evidence to prove it.”
Newsworks CEO Rufus Olins said advertisers who wanted the best return on their investment should study this research.
“It is clear that newspaper brands boost other media as well as performing a powerful role in their own right. Running a campaign without newspapers is like trying to bake a cake without baking powder,” Mr Olins said.
Gawker founder faces bankruptcy
The fallout from the Hulk Hogan privacy case could see Nick Denton, founder of digital media company Gawker, face personal bankruptcy.
According to The Guardian, a US judge has refused to extend Chapter 11 protections that would shield Mr Denton from the case’s $US140 million judgment against Gawker, of which he is liable for $US10 million and partly liable for another $US115 million.
Earlier this year, retired wrester Hogan successfully sued Gawker for violation of privacy after it published a sex tape he was featured in.
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