Fox News names 2 company veterans as co-presidents

Fox News announced Friday that Bill Shine and Jack Abernethy will serve as the network's new co-presidents. The two company veterans will report to Rupert Murdoch, executive chairman of 21st Century Fox and executive chairman of Fox News Channel, who took over leadership of the network after former Chairman and CEO Roger Ailes resigned July 21 following allegations of sexual assault.
Abernethy, who is Fox Television Stations' CEO, will head up advertising, finance, sales, and distribution, while Shine, who was the station's senior executive vice president, will oversee programming, news, and editorial content. "Bill Shine has developed and produced a signature primetime that has dominated the cable news landscape for 14 of his 20 years with Fox News. His leadership and keen eye for programming has played a fundamental role in the success of both Fox News and Fox Business Network," Murdoch said in a statement. Of Abernethy, Murdoch said he will "ensure continued growth of Fox News and Fox Business Network for generations to come."
The network also announced Friday that its chief financial office, Mark Kranz, will be stepping down.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
How the New World Screwworm is making a deadly comeback
The explainer The parasite is spreading quickly
-
A running list of all the celebrities Trump has pardoned
IN DEPTH Reality stars, rappers and disgraced politicians have received some of the high-profile pardons doled out by the president
-
US credit rating: what it is and why it matters
the explainer Credit rating agency Moody's downgraded the US last month
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect