FIRST AIRED: July 21, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

Business

Murdoch takes over as Fox News chief resigns

Opening sequence

Opening sequence

Business

Murdoch takes over as Fox News chief resigns

0:00
18:07
More Info

COMING UP:Murdoch takes over as Fox News chief resigns

×

Transcript

00:00:00
>> In a stunning fall from grace, Roger Ailes arguably one of the most powerful men in the news business is out as the head of the Fox News empire he created from the ground up after allegations of sexual harassment. And not just anybody is taking over, his long time boss, billionaire Rupert Murdoch will temporarily run the newsroom.
00:00:21
Reuter's Media correspondent Jessica Toonkel says, Thursday's announcement caps a wild week of contradictory reports focused on Ailes's future.>> I think many people expected that Fox was going to wait until tomorrow to announce anything until after the Republican National Convention was over, but negotiations were continuing. There was pushing.
00:00:41
There was pulling. And today, they came to an agreement and Roger Ailes has resigned.>> Ailes fate seem to be sealed by leaks to the media earlier this week that star anchor, Megyn Kelly told investigators, she was sexually harassed by Ailes about a decade ago. The probe set off by a lawsuit by a former Fox News Anchor Gretchen Carlson.
00:01:01
The negotiations surrounding Ailes's departure so important, Murdoch cut short his vacation and flew back from the French Riviera to take part according to the New York Times. Murdoch owes everything to Ailes for the success of Fox News, a ratings and advertising revenue behemoth.>> Roger Ailes is Fox News.
00:01:20
I mean, he created it. He made it the top rated cable network and he really defined its vision, he got the talent. He really made it what it was today. So I mean, having said that, some people say it is what it is. It will be okay without Roger there, because it's such a star right now.
00:01:38
So maybe this is a good time to make these changes, because they're so far ahead of everyone else right now.>> A lead in the media business, however, can quickly turn when there's a change at the top. CNN lost its way after founder Ted Turner was ousted and ABC News never had another giant after Roone Arledge, but they didn't have a media mogul like Rupert Murdoch to step in and guide the newsroom through what will likely be a challenging time.