REPORT: Former Speaker of the House Paul Ryan joins board of Fox Corporation

CNN.com:

New York (CNN Business) — Former Speaker of the House Paul Ryan is joining the board of the newly slimmed-down Fox Corporation, the parent company of Fox News.

Ryan and three other board of directors were appointed on Tuesday. Appointing these directors was a necessary step as the Murdoch family wraps up the Disney-Fox deal.

The article goes on to state the following:

Disney is acquiring most of 21st Century Fox, including its movie studio and entertainment cable channels. The deal will officially close at 12:02 a.m. ET on Wednesday.

The parts of Fox that aren’t being acquired by Disney are forming a new company, simply called Fox, that will be run by Rupert Murdoch’s son Lachlan Murdoch. Rupert will be co-chairman of the company — a sign that he will remain right in the center of the fray.

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