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Roger Ailes, the chairman of Fox News, has renewed his contract with News Corp.
Roger Ailes has signed another four-year contract with News Corp. to continue running all four Fox stations, the media conglomerate announced Friday.
The four-year contract puts Ailes at the helm of Fox Business Network, Fox television stations and 20th Century TV, the Huffington Post reported.
Ailes is, as Forbes pointed out, "arguably the most powerful executive at News Corp. after Rupert Murdoch": The conservative news channel is responsible for pulling in $1 billion a year in profits, or 40 percent of News Corp.'s total haul.
More from GlobalPost: Roger Ailes regrets calling New York Times' reporters 'a bunch of lying scum'
The Daily Beast's Howard Kurtz first tweeted the news:
Exclusive: Roger Ailes signs 4-year deal with News Corp to run Fox News, Fox Biz, Fox stations, 20th TV. Ink hasn't dried yet on contract
— HowardKurtz (@HowardKurtz) October 19, 2012
The details of the deal have not been released, but Ailes is rumored to be asking for a raise on his $21 million salary, according to the Post.
Ailes has run Fox News since 1996 when it was founded, and has run a spin-off channel, the Fox Business Network, since 2007, the New York Times reported.