Company founder Rupert Murdoch will stay on as an executive co-chairman along with his other son Lachlan. Current company president and COO Chase Carey will become executive vice chairman.
"It has always been our priority to ensure stable, long term leadership for the company, and these appointments achieve that goal," Rupert Murdoch said in a statement.
Shares closed down 0.62% at $32.26 in Tuesday's regular trading session.
New York City-based Twenty-First Century Fox is a diversified global media and entertainment company that operates industry segments including cable network programming, television, filmed entertainment, and direct broadcast satellite television.
Insight from TheStreet's Research Team:
Michael Khouw commented on Twenty-First Century Fox in a recent post on ActionAlertsOPTIONS.com. During the most recent weekly roundup, this is what Khouw had to say about the stock:
We initially recommended a FOXA June 34/38 call spread, which, after a brief rally in the shares, we adjusted to take some profits/reduce risk.
The adjusted position -- the FOXA June 35/37 call spread -- has not done as well due the shares pullback. Adjusting to the more moderate tenor of the shares at the moment (technically the shares actually have a slightly bearish short-term outlook) we have elected tocollect some premium to possibly buy some shares at slightly lower levels by selling cash-covered July 32 puts. This trade is principally to be used in conjunction with the earlier call-spread position as the put premium we collect will offset some of the decay.
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Separately, TheStreet Ratings team rates TWENTY-FIRST CENTURY FOX INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TWENTY-FIRST CENTURY FOX INC (FOXA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels, expanding profit margins, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: FOXA Ratings Report