Fox Signs CEO Ailes To 5-Year Deal
While the channel continues to be a strong performer, Ailes also oversees the year-old Fox Business Network, parent News Corp.'s owned-and-operated stations (which are struggling with the difficult economy) and MyNetworkTV, which has failed to challenge any of the other broadcast networks. Also under his watch is Twentieth Television.
Ailes, a former Republican political consultant, launched Fox News in 1996 and has been with News Corp. ever since.
"Under his leadership, I believe that Fox Business Network will become the strongest competitor in financial television news," News Corp. CEO Rupert Murdoch said.