Former Speaker of the House Paul Ryan on Tuesday was named a board member of Fox Corporation, the new parent company of Fox News.
Ryan will be one of seven board of directors, according to a press release from the company. He will serve alongside Rupert Murdoch, the founder of Fox, and Lachlan Murdoch, the company’s chief executive and chairman. News of Ryan’s appointment comes after Murdoch sold 21st Century Fox — the former parent company of Fox News — to Walt Disney. Fox Corporation was established in its place.
“We are thrilled to welcome our new colleagues to the FOX board. We look forward to working with and being guided by them as we begin a new chapter, steadfastly committed to providing the best in news, sports and entertainment programming,” Lachlan Murdoch, the son of Rupert, said in a prepared statement Tuesday.
It’s not immediately clear how much Ryan will make at Fox Corporation, but, according to SEC filings, 21st Century Fox board members earned around $300,000 in cash and equity annually.
The position, which marks Ryan’s first gig since leaving Congress, will require him to periodically meet with other board members and offer advice to the company.
After serving in House of Representatives for two decades, Ryan declined to run for re-election in 2018, citing a need to spend more time with family in his hometown of Janesville, Wisconsin. He chaired the Budget Committee and the prestigious Ways and Means Committee during his congressional career. He was the Republican Party’s vice presidential nominee in 2012, and ended his congressional tenure as the speaker of the House.
The Wisconsin Republican had a notably rocky start to his relationship with Donald Trump during the 2016 presidential election. Ryan said he wasn’t “ready to do that” when asked about endorsing then-presumptive GOP nominee Trump in May 2016. Trump returned fire shortly after, saying he was “not quite there yet” on supporting the speaker.
However, the two later warmed to each other, with one high-point being Trump’s passage of tax reform in December 2017, a long-sought goal by Ryan for years. The president offered Ryan strong praise in a tweet that congratulated his successor in Wisconsin’s 1st Congressional District.
“Congratulations to Bryan Steil on a wonderful win last night,” Trump tweeted in August 2018. “You will be replacing a great guy in Paul Ryan, and your win in November will make the entire State of Wisconsin very proud.”
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