Fox chairman Kevin Reilly to step down at end of June

Reuters News
Posted: May 29, 2014 2:20 PM

LOS ANGELES (Reuters) - Kevin Reilly, the chairman of entertainment at Twenty-First Century Fox Inc's broadcasting division, will step down at the end of June, the company said on Thursday.

Reilly's departure coincides with a slump in the U.S. television network's ratings in the past season. Fox dropped to fourth among broadcast networks, averaging 7.3 million total viewers, according to Nielsen data.

Reilly said in a statement that he and Fox Networks Group chairman and chief executive Peter Rice had been discussing his departure for a while.

"It felt like the timing was as right as it could be," Reilly, who joined Fox in 2007 and was named chairman of entertainment in 2012, said in the statement.

Fox said that Reilly's senior executives will report to Rice before the company names a replacement.

(Reporting by Eric Kelsey; Editing by Chizu Nomiyama and Grant McCool)