Saturday, 12 August 2023

Deadline: Fox Corp. Chief Legal And Policy Officer Viet Dinh To Leave Exec Post For Advisory Role

Story from Deadline:

Viet Dinh, a key strategic and business leader at Fox Corp. and a longtime consiglieri in the Murdoch empire, is leaving his executive post in the wake of the Fox News settlement with Dominion Voting Systems.

Dinh will step down as Chief Legal and Policy Officer on December 31 and become a “special advisor” to the company, Fox said in a press release issued Friday after the close of trading.

Dinh came aboard 21st Century Fox in 2018 just before Disney acquired most of the company, leaving a clutch of TV-focused assets that took on the corporate name Fox Corp. Working closely with CEO Lachlan Murdoch, he played a significant role in guiding Fox’s path, handling all legal, compliance and regulatory matters as well as overseeing government affairs.

In steering Fox’s legal strategy, Dinh was a key management figure as Fox News faced a trial in Dominion’s defamation lawsuit over coverage of the aftermath of the 2020 presidential election. Fox settled the case for $787.5 million last spring, just as the trial was to begin. But the resolution came after the release of embarrassing discovery material, and the company continues to face another lawsuit from another election systems company, Smartmatic.

The Dominion revelations included a trove of internal emails, including those from Rupert and Lachlan Murdoch, as well as excerpts from their depositions. Dinh himself was on the witness list to testify, as he had said in his deposition that he didn’t believe President Donald Trump’s election claims but did not step in on the editorial decision making, something he said he had never been asked to do. In his government relations capacity, Dinh recently hosted a fundraiser for Sen. Joe Manchin (D-W.Va.) when Manchin was in Los Angeles for the Milken conference.

Dinh will get a $23 million lump-sum cash severance payment and then will be paid $2.5 million a year for his advisory services through 2025, Fox disclosed in an SEC filing.

“We appreciate Viet’s many contributions and service to Fox as both a board member of 21st Century Fox and in his role over the last five years as a valued member of Fox’s leadership team,” Murdoch said. “We are grateful that he will continue to serve Fox as Special Advisor where we will benefit from his counsel.”

In addition to his current exec stint, Dinh served on the boards of 21st Century Fox and the Murdoch-controlled News Corp., among other companies. A well-connected legal expert, he became a partner at Kirkland & Ellis after it acquired Bancroft, the high-profile firm he had founded. He was a Georgetown University law professor for 20 years and U.S. Assistant Attorney General for Legal Policy from 2001 to 2003.

“I have been privileged to be part of the Fox family for over two decades as a director and officer, and I have especially treasured my relationships with Rupert, Lachlan and our talented colleagues over the years,” Dinh said. “I look forward to continuing with Fox as Special Advisor, and to returning to my roots of working on multiple ventures and with many clients across a variety of disciplines.”

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