NEW YORK Nov 20 Roger Ailes, the veteran
television executive who launched the Fox News Channel and Fox
Business Network, has signed a new five-year contract with News
Corp NWSa.N, Rupert Murdoch's media conglomerate.
Ailes, 68, joined News Corp in 1996 when he launched the
Fox News Channel. Under the new contract, Ailes will continue
to oversee the news and financial channels, as well as Fox
Television Stations, Fox Business Network, My Network TV and
He also will advise Murdoch on TV and news matters,
according to a statement released by News Corp on Thursday.
Ailes had more than a year left on his previous contract,
company spokesman Brian Lewis said. He declined to say how much
money Ailes would earn under the new contract.
Ailes is a longtime media consultant and TV executive.
According to many books and reports, he served as media adviser
on Richard Nixon's U.S. presidential campaign in 1968 and
helped the famously TV-averse candidate adjust to the medium.
He also served as a consultant in 1984 to President Ronald
Reagan and later to President George H.W. Bush.
Under Ailes, the upstart Fox News Channel rode a wave of
support among conservative-leaning watchers who considered
other media outlets too liberal. It became one of the top-rated
cable news programs, though it took several years and was
greeted dismissively at first by many media experts.
The Fox Business Network, which Ailes started a little more
than a year ago, reaches more than 40 million homes. This is a
fraction of the homes reached by its older and more established
rival, General Electric Co's (GE.N) CNBC. Ailes worked for that
network before being hired away by Murdoch.
(Reporting by Robert MacMillan; editing by Gunna Dickson)