A senior News Corp (NYSE: NWS) exec has a new deal with the company and it’s not Peter Chernin. Roger Ailes, who had two years to go on his current agreement, has a new five-year lease on life at News Corp which starts immediately. He will continue as chairman and CEO, Fox News, and chairman, Fox Television Stations. Ailes also retains his other, influential role as a senior advisor to News Corp chairman and CEO Rupert Murdoch on television and news. Ailes joined News Corp in 1996 to launch FNC, adding Fox Television Stations and Twentieth Television to his portfolio in 2005. He also is chairman and CEO of the Fox Business Network, which launched last year.

The new employment agreement has not yet been filed with the SEC. According to previous filings, Ailes’ compensation for FY08 included a $4.5 million cash bonus based on FNC’s performance and a minimum annual bonus of $1 million on top of an annual salary of $5 million. Including stock awards, his FY08 compensation was $19.9 million. Release.

• Chernin’s Contract Negotiations Ongoing With News Corp; How About Leading Yahoo?
• News Corp. Proxy: Murdoch Gets Bonus Bump In ‘08; Moves To Eliminate Staggered Board