The Fox Television Group CEOs are in the final stages of negotiations with the company and have agreed in principle to a contract extension that will keep them on as heads of Fox Broadcasting Company and 20th Century Fox Television until a time when Disney’s pending acquisition of the bulk of Fox’s entertainment properties is expected to be near completion. The extension is believed to allow Walden and Newman the option of exiting the company should the deal be finalized sooner than anticipated.
Variety first reported the extension agreement in its May 15 cover story on the future of Fox Broadcasting.
Walden and Newman’s future have been subjects of speculation since the Disney deal was announced in December. Newman is said to be considering a role at the post-deal Fox that would allow him to guide FBC through a historic transitionary period, as the network would be divorced from Disney-bound studio 20th TV. Rumors about Walden’s fate have varied widely, including possible roles at Disney, Fox and elsewhere. She had been considered for the top job at Amazon Studios, but withdrew in January. Sources told Variety at the time that she did not want to leave Fox, her home for more than two decades, on short notice at a critical time for the company.