By Rod Ardehali For Dailymail.com
Published: 15:16 GMT, 19 March 2019 | Updated: 15:26 GMT, 19 March 2019
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Paul Ryan has been appointed to the board of directors of the newly formed Fox Corp amid the ongoing sale of billionaire Rupert Murdoch's 21st Century Fox.
Fox Corp, a new, stand alone company, which owns Fox News among other television assets, marks a new phase for Murdoch's media business which now will rely heavily on its cable news and sports output for the bulk of its earnings.
The separation is part of a $71 billion sale of Murdoch's entertainment wing to Walt Disney Co., expected to be completed late Wednesday.
Paul Ryan has been appointed to the board of directors of the newly formed Fox Corp amid the ongoing sale of billionaire Rupert Murdoch's 21st Century Fox. The appointment comes more than a year after the long-serving representative retired to spend more time with his family
The new stand alone company, which owns Fox News among other television assets, marks a new phase for Murdoch's media business which now will rely heavily on its cable news and sports output for the bulk of its earnings (Murdoch is pictured with his oldest son Lachlan)
Murdoch retains the Fox News Channel and Fox broadcast network in the form of Fox Corp, while Disney will acquire the 20th Century Fox movie and television studios with its treasure trove of popular shows including
