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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| News Corporation | NASDAQ:NWSA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.47 | 1.96% | 24.47 | 24.07 | 24.87 | 24.525 | 24.17 | 24.17 | 2,640,715 | 01:00:00 |
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Roger Ailes has agreed to resign as Fox News Channel's chairman and chief executive in the wake of a sexual harassment scandal, ending his successful but controversial tenure at the helm of the cable news network he has built up over 20 years.
Fox News-parent 21st Century Fox Inc. announced Mr. Ailes's resignation in a statement on Thursday and said 21st Century Fox Executive Chairman Rupert Murdoch will take on the role of Fox News chairman and acting CEO.
"Roger Ailes has made a remarkable contribution to our company and our country," Mr. Murdoch said in a news release. "Roger shared my vision of a great and independent television organization and executed it brilliantly over 20 great years."
Mr. Ailes will get an exit package worth more than $40 million, according to a person familiar with the matter, and will be a consultant for Mr. Murdoch.
The departure of Mr. Ailes comes less than three weeks after former Fox anchor Gretchen Carlson filed a lawsuit alleging that Mr. Ailes retaliated against her and sabotaged her career because she complained about a hostile work environment at the network and rebuffed his advances.
Mr. Ailes has denied the charges. Fox hired a law firm to investigate, and the probe has revealed a pattern of inappropriate behavior toward female staffers, people familiar with the matter said.
21st Century Fox and Wall Street Journal-owner News Corp were part of the same company until mid-2013.
In his letter of resignation, Mr. Ailes didn't address the sexual harassment claims but told Mr. Murdoch, "I am proud that we have built Fox News and Fox Business channels into powerful and lucrative news organizations that inform our audience and reward our shareholders. I take particular pride in the role that I have played advancing the careers of the many women I have promoted to executive and on-air positions."
He added, "I will not allow my presence to become a distraction from the work that must be done every day to ensure that Fox News and Fox Business continue to lead our industry."
Write to Joe Flint at joe.flint@wsj.com
(END) Dow Jones Newswires
July 21, 2016 17:15 ET (21:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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