×

21st Century Fox Taps Investor Jeffrey Ubben to Join Board

21st Century Fox has tapped ValueAct Capital founder Jeffrey W. Ubben to join its board, bringing the number of directors from 12 to 13.

Ubben made headlines last month by buying a minority interest in the talent agency UTA. A vote on his nomination to the Fox board will take place this year.

In a joint statement, Fox Executive Chairmen Rupert Murdoch and Lachlan Murdoch praised Ubben’s “perspective” as “a global investor.”

“The rapidly changing media landscape presents significant opportunities, and I believe 21st Century Fox is uniquely positioned to leverage its global presence and market leadership to create further long-term value for all stockholders,” Ubben said.

Ubben is known as an activist investor, but one who usually operates in tandem with a company’s leadership instead of engaging in proxy fights or scorched earth public relations battles. His company has backed the likes of Canadian pharmaceutical company Valeant, food maker Sara Lee and news organization Reuters.

In conjunction with joining the board, public filings reveal that Ubben has agreed not to engage in any hostile takeover activity and will not purchase more than 7% of the company. ValueAct currently holds a 5.9% stake.

Ubben’s appointment comes as Fox has undertaken a major leadership shift, one that has seen Rupert Murdoch’s sons James and Lachlan assume key roles atop the media conglomerate. He has met frequently with the family over the past year, according to an individual with knowledge, and has come away impressed by how the company is being run.

Popular on Variety

More Film

  • Harvey Weinstein, Katie Holmes, Taylor Swift'The

    Taylor Swift Downplays Association With Harvey Weinstein

    Taylor Swift’s association with disgraced movie mogul Harvey Weinstein was among the topics the singer addressed in a revealing new interview with The Guardian. Weinstein held producer credits for the movies “One Chance” and “The Giver,” both of which featured Swift — in the former, a song, and in the latter, a supporting role. She [...]

  • Breaking Bad Movie

    'Breaking Bad' Movie: Watch the First Teaser for 'El Camino'

    In case you hadn’t heard – “Breaking Bad” is cooking up a comeback. On Saturday, after details of Netflix’s “Breaking Bad” movie quietly leaked online, the streaming giant issued the first teaser for “El Camino: A Breaking Bad Movie,” which will be released on October 11. Starring Aaron Paul as Jesse Pinkman, the “Breaking Bad” [...]

  • Samara Weaving and Adam Brody Big

    'Ready or Not': That Time Samara Weaving Hit Andie MacDowell in the Face

    Samara Weaving didn’t mean to hurt Andie MacDowell, but she did just that while they were rehearsing for their new horror dark comedy “Ready or Not.” “I hit Andie MacDowell in the face by accident,” Weaving says on this week’s episode of “The Big Ticket,” Variety and iHeart’s movie podcast. “It was horrible. It was [...]

  • Aracne

    Chile’s Sanfic, Mexico’s Morbido Fest Pact to Promote Latino Horror (EXCLUSIVE)

    Mexican horror festival Morbido and Chile’s Santiago Intl. Film Festival (Sanfic) have agreed on a long-term collaboration intended to strengthen the genre film industry in Chile and across Latin America. This partnership will see Morbido representatives attend the Sanfic industry section each year to aid in the promotion of horror projects and advise those projects [...]

  • Tom Holland'Spider-Man: Homecoming' film premiere, Arrivals,

    Tom Holland Addresses Spider-Man’s Studio Divorce at D23: ‘I Love You 3000’

    British actor Tom Holland showed face on the main stage at D23 on Saturday, in the thick of an ugly studio battle over the rights to his iconic Marvel character Spider-Man. Headlines have been rolling in for days about the contentious battle for the cinematic future of the hero, after Sony Pictures became unwilling to [...]

  • Soul Movie

    Pixar's 'Soul' Announces Voice Cast: Jamie Foxx, Tina Fey to Star

    Disney debuted a first look at upcoming Pixar film “Soul” at the D23 expo in Anaheim, Calif. and announced its star-studded voice cast. “Soul” imagines that every person on earth comes pre-installed with a soul formed and perfected in a cosmic realm. Jamie Foxx will play a middle-school music teacher on earth who dreams of [...]

  • Emma Stone Variety Actors on Actors

    First Look at Emma Stone in Disney's Live-Action 'Cruella' Drops

    Emma Stone’s Cruella de Vil is significantly more punk rock than her animated counterpart. Stone appeared via video message to debut the first look of the titular character in Disney’s “Cruella” at D23 on Saturday, also revealing that it will take place in the punk rock era of the 1970s. In the first photo, Stone [...]

More From Our Brands

Access exclusive content