FOX News Names Mark Kranz Chief Financial Officer

NEW YORK--(BUSINESS WIRE)--Dec. 9, 2004--FOX News has promoted Mark Kranz to Chief Financial Officer, announced Roger Ailes, Chairman and Chief Executive Officer, FOX News. In his new position, Kranz will oversee all financial matters of the network including budgeting, accounting, purchasing, as well as business and strategic planning.

In making the announcement, Ailes said, "Mark has played a key role in helping the network achieve outstanding growth and profitability. He is a strong, talented executive who earned this promotion through steady performance, mature advice and attention to detail. I enjoy working with Mark and his expertise will serve FOX News well in the future."

“Mark has played a key role in helping the network achieve outstanding growth and profitability. He is a strong, talented executive who earned this promotion through steady performance, mature advice and attention to detail. I enjoy working with Mark and his expertise will serve FOX News well in the future.”

The position, which reports directly to Mr. Ailes, was previously held by Jack Abernethy who was recently named Chief Executive Officer of Fox Stations Inc.

Prior to his promotion, Kranz served as Vice President, Finance, where he provided financial and business analysis for Fox News and was instrumental in increasing profitability. Kranz joined FOX in January 1997 as Director, Finance.

Before joining FOX, Kranz held various financial positions at Viacom since 1985. He was named Vice President, Finance and Business Development for the media company in 1994. A graduate of SUNY Stony Brook, Kranz received a B.A in Economics.

FOX News Channel (FNC) is a 24-hour general news service covering breaking news as well as political, entertainment and business news. For nearly three years, FNC has been the most watched cable news channel in the nation and currently presents the top eleven programs in cable news. Owned by News Corp., FNC is available in more than 85 million homes.