Fox is to scrap its Fox International Channels (FIC) division in favour of a regionalised structure, with president and chief executive Hernan Lopez (pictured) leaving the business.

Set up in 1993, FIC produced and distributed Fox’s portfolio of over 300 TV channels across dozens of global markets.

However, to capitalise on growth markets in Asia and Latin America, the broadcaster has now decided that these regions should “stand independently”.

Fox Networks Group will now operate three regional hubs. Fox Networks Group Europe will be led by Jan Koeppen; Fox Networks Group Latin America will be overseen by Carlos Martinez; and Fox Networks Group Asia will be run by Zubin Gandevia.

All three will report to Fox Networks Group chief executive Peter Rice and chief operating officer Randy Freer.

Rice said: “As our television business expands globally, the success and scale of our entertainment and sports brands in these fast-growing regions demand that they stand independently. Jan, Carlos and Zubin are extremely talented executives with a sharp understanding of the opportunities for new content and programming in their regions.”

Alongside the changes, Lopez – FIC chief executive since 2011, and a Fox veteran of nearly 20 years – will leave the company. He told Variety he is planning to launch a new venture in the near future.

“We created a culture of entrepreneurship that valued results and risk-taking,” said Lopez, a speaker at last year’s Festival of Media Global (see below). “I don’t think a business that prides itself on building brands can be paralyzed by the fear of taking risks.”

“Hernan has been a driving force in the development of our global television strategy and in building our channels around the world,” added Rice. “He is one of the most talented and insightful executives I have worked with and we wish him the very best with his new venture.”