21st Century Fox names Stacey Snider as CEO of film studio unit

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June 16, 2016 2:52 PM EDT

The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York June 11, 2015. REUTERS/Eduardo Munoz/File Photo

(Reuters) - Twenty-First Century Fox Inc (NASDAQ: FOXA) said Jim Gianopulos would step down as chief executive of its film studio business in June next year and co-Chairman Stacey Snider would succeed him.

The Rupert Murdoch-controlled media company said on Thursday that Gianopulos, a 25-year company veteran, would move to a "strategic role".

Snider joined Fox in November 2014 after eight years as chief executive and co-chairman of DreamWorks Studios, where she worked with director Steven Spielberg.

She has also been the chairman of Universal Pictures.

Fox's revenue from its film studio business has fallen in the recent quarters.

However, the company met Wall Street's expectations on its third-quarter earnings, partly due to the success of its superhero film "Deadpool."

(Reporting by Sai Sachin R in Bengaluru; Editing by Kirti Pandey)


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