June 9 Chase Carey, the president and chief
operating officer of Rupert Murdoch's 21st Century Fox,
signed a contract to stay with the media company for up to two
years, according to a regulatory filing on Monday.
The move ensures that Carey will remain at the company while
Murdoch prepares to turn his media empire over to his sons,
James and Lachlan.
Fox extended Carey's contract through June 2016, the filing
said. Carey has the option to leave earlier, on Dec. 31, 2015,
if he provides six months' notice. He would have to provide
"non-exclusive consulting services" through June 2016 if he opts
for the earlier departure.
Carey's contract had been up for renewal on June 30 and
investors had been wondering whether he would stay.
At the end of March, Murdoch returned his eldest son,
Lachlan, to the leadership of his media empire and promoted
younger son James to pave the way for the 83-year-old tycoon's
(Reporting by Liana B. Baker; Editing by Jan Paschal)