Rupert Murdoch steps down as Fox and News Corp chairman in favour of son Lachlan

  • By Bernd Debusmann Jr
  • BBC News, Washington

Image supply, Getty Images

Image caption,

Rupert Murdoch stated his son Lachlan (R) would head each Fox and News Corp

Media mogul Rupert Murdoch says he’s stepping down as chairman of Fox and News Corp, along with his son Lachlan to go each firms.

In a memo to workers, Murdoch stated “the time is right” for him to tackle “different roles”.

Murdoch, 92, launched Fox News in 1996. It is now essentially the most watched TV information channel in the US.

Murdoch stated he’ll transition to the position of Chairman Emeritus of each corporations in mid-November.

It comes months after the mogul ditched a plan to merge Fox and News Corp, which might have reunited two main media belongings.

“Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges,” he wrote. “We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.”

The announcement of Murdoch’s transition comes throughout a turbulent yr for Fox, which in April agreed to pay a $787.5m (£634m) settlement after being sued by voting machine firm Dominion over its reporting of the 2020 presidential election.

On 25 April, the corporate additionally introduced it could “part ways” with Tucker Carlson, the community’s highest ranking and enormously influential TV host.

In his memo to workers, the conservative Murdoch vowed to proceed to be concerned in the “contest of ideas”.

He additionally criticised different media retailers as being “in cahoots” with a “rarefied class” of elites who he accused of “peddling political narratives rather than pursuing the truth”.

In a press release, Lachlan Murdoch – who returned to the household enterprise in 2014 after an abrupt departure practically a decade earlier – stated that his father “will continue to provide valued counsel to both companies”.

The elder Murdoch started his profession in his native Australia in the 1950s, finally gaining management of the News of the World and The Sun newspapers in the UK in 1969.

He later bought a quantity of US publications together with the New York Post and Wall Street Journal. Through News Corp, he stays the proprietor of lots of of native, nationwide and worldwide media retailers.

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