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Fox News CEO Roger Ailes resigns

However, Ailes will continue to serve as an informal adviser to Rupert Murdoch and will receive a severance package of about 40 million US dollars.

Jul 22, 2016 12:00 IST
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Roger AilesRoger Ailes on 21 July 2016 resigned as Chairman and Chief Executive Officer of Fox News Channel, putting an end to his 20-year reign over America's powerful cable news channel for conservatives.

He will be succeeded by Rupert Murdoch, Head of parent company 21st Century Fox and Founder of the empire that includes Fox.

However, Ailes will continue to serve as an informal adviser to Rupert Murdoch and will receive a severance package of about 40 million US dollars.

Comment
The resignation of Roger Ailes marks a swift downfall for Ailes, who advised several US Republican presidents including George Bush and who turned Fox News into the most-watched US cable news channel.

Ailes has created a business that contributes almost 25 percent to the bottom line of 21st Century Fox, the single most profitable asset in the company’s portfolio.

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