James Murdoch Not Moving to Disney If Fox Deal Closes (Report)

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James Murdoch

With Lachlan Murdoch expected to be CEO of the remaining Fox, his younger brother is reported to be looking at starting a venture capital fund to invest in digital and international media businesses.

James Murdoch will not move to The Walt Disney Co. if a $52.4 billion deal for 21st Century Fox's media assets is completed and will instead look to start a venture capital fund to invest in digital and international media businesses, The Wall Street Journal reported Tuesday. 

Murdoch, the chairman of Fox as well as the U.K.'s Sky, was expected to take up a senior executive position at Disney if and when the deal closed. However, in the months after the deal was announced, Disney CEO Bob Iger has opted against giving specifics on what role Murdoch would take at the company. 

If the deal closes, Murdoch could be the odd man out, as reports suggest that his older brother Lachlan and his father Rupert are expected to remain with what’s now being called New Fox, consisting of Fox News Channel, Fox Business Network and the Fox broadcast network.

According to the WSJ report, Murdoch has told associates that he will not be moving to Disney and will return to venture capital and media investment, areas he was involved in before he took on the top executive roles at his father's media empire. Murdoch is expected to walk away with $1 billion if the Disney-Fox deal goes through, and people familiar with the matter told the WSJ that a prospective Murdoch-run venture capita fund would invest in digital and international media businesses. 

In addition to his current role at Fox, Murdoch retains boardroom positions at sister company News Corp, Tesla, Yankee Global Enterprises, Vice Media and his wife's company Quadrivium.