Longtime Fox executive Peter Rice has been promoted to the corporate suite as president of 21st Century Fox.Rice will continue to oversee the majority of Fox's domestic television operations, as well as the international channels group. He will retain his title as chairman-CEO of Fox Networks Group, a role he's held since 2012. In that capacity he already works closely on strategic planning and business development with 21st Century Fox CEO James Murdoch and chairman Lachlan Murdoch.The corporate title is...
Rice first earned the respect of Rupert Murdoch with an incredible run at Fox Searchlight Pictures, where he shepherded hit after hit including “Juno,” “The Last King of Scotland,” and “Bend it Like Beckham” beginning in 2000. Murdoch rewarded that hot streak by moving him to the TV business for an even bigger job.
Promoted in September 2017 to president of 21st Century Fox, Rice has grown adept at juggling the very different needs of the company’s diverse array of networks, from FX to National Geographic. But he knows growth comes from change. Rice spent much of 2016 making structural changes to the company, reorganizing some of its brands, cutting costs in some areas and investing more heavily in others.
Knowing such change would mean a reduction of staff, Rice started with enticements for certain employees to resign voluntarily, a plan that could reduce staff overhead by $250 million in 2016 alone.
When Rice placed 20th Century Fox Television and the Fox network under the same management team of Dana Walden and Gary Newman in 2014, he cited benefits of having a vertically integrated network/studio. Variety reported that Rice told attendees of the 2014 TCA summer tour, “You can speak to us with a single voice now…I think it’s going to be good for us, and I think it’s going to be good for creatives.”
Rice had previously proved his abilities as a change maker when, as Chairman of Entertainment for Fox Networks Group, he led Fox to a three-season run as the No. 1 broadcast network.