Fox Networks Group CEO Peter Rice Gets Contract Extension

Getty Images
Peter Rice

‎James Murdoch says the unit has "continued to push creative boundaries across the company."

Fox Networks Group CEO and chairman Peter Rice will stay in his post under a contract extension announced Wednesday.

Rupert Murdoch's 21st Century Fox said he has agreed to extend his employment agreement, but the company didn't immediately detail terms.

PHOTOS: Rupert Murdoch's Family Photos

The news came on the same day as 21st Century Fox promoted Murdoch's son James Murdoch to the role of co-COO, from deputy COO, and son Lachlan Murdoch to non-executive co-chairman.

"Under Peter Rice’s leadership Fox Networks Group has continued to push creative boundaries across the company, and has grown tremendously with successful channel launches including Fox Sports 1 and FXX, an increased international footprint and enhanced sports offerings across the world," said James Murdoch.

He added: "Chase and I are delighted Peter is committed to continuing to grow this incredible business and look forward to even more success in the years to come.”

PHOTOS: Rupert Murdoch and Wendi Deng Through the Years

‎A spokesman declined to detail the length or other terms of his contract.

Rice was appointed chairman and CEO of the Fox Networks Group in August 2012. In the role, he supervises all aspects of the Fox Broadcasting Company, FX Networks, including the recently announced FXX, as well as the Fox Sports Media Group, including the company's 22 owned-and-operated regional sports networks, Fox Soccer Channel and Fox Soccer Plus, Fox College Sports, Fox Deportes, the BTN joint venture with the Big Ten Conference, and Fox Sports 1. He is also responsible for multiple National Geographic Channel brands and the fast-growing Fox International Channels.

Before that, Rice served for two years as chairman, entertainment for the Fox Networks Group. He also previously served as chairman, entertainment for Fox Broadcasting.

Before transitioning to TV, Rice served as president of Fox Searchlight Pictures and Fox Atomic.