Tony Abbott nominated to board of Fox Corporation

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Former Prime Minister Tony Abbott has been nominated to the board of global media giant Fox Corporation.

The nomination comes a day after Rupert Murdoch announced he would be stepping down as chairman of the company in favour of his son Lachlan.

Also nominated to the board of directors was tech executive Peggy Johnson.

Tony Abbott.

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"I welcome Peggy Johnson and Tony Abbott's nominations to the board," Lachlan Murdoch said in a statement today.

Both Abbott and Johnson's nominations will be considered by shareholders at the annual meeting later this year.

Abbott served as prime minister from 2013 to 2015, and was a member of parliament from 1994 until 2019.

Since leaving office, Abbott has served as an advisor at the UK Board of Trade.

If his nomination is approved, he will join a board which also includes former US Speaker of the House Paul Ryan.

Rupert Murdoch will remain on the board as "chairman emeritus", with Lachlan serving as chairman.

Abbott's salary has not been disclosed, but most board members at Fox are making about A$500,000 in salary.

The Fox Corporation is a US-based company that runs the television arm of the Murdoch empire.

Its sister company News Corp runs the newspaper side of the business, as well as Murdoch's Australian assets, including Foxtel, Sky News and more than a hundred newspapers.