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Lachlan Murdoch Pledges No Strategic Change at Fox News After Ailes

Keep calm and carry on.

That was the message from 21st Century Fox (FOXA) Co-Chairman Lachlan Murdoch on Thursday addressing the state of operations at the Fox News Channel following the stunning resignation two weeks ago of its co-founder and longtime leader Roger Ailes after a lawsuit alleging sexual harassment.

"There is no desire or need to shift the position that Fox News has in the market," Murdoch said on an investor conference call after the parent company reported earnings. "We are undergoing a transition in leadership that shouldn't...