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Journalism of Courage
This is an archive article published on September 21, 2023
Rupert Murdoch steps down as Fox, News Corp chairman after 7-decade stint
His son, Lachlan Murdoch taking over as the next chairman of the companies.
Rupert Murdoch (AP)
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Rupert Murdoch steps down as Fox, News Corp chairman after 7-decade stint
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Media baron Rupert Murdoch is stepping down at Fox and News Corp after over seven decades, with his son, Lachlan Murdoch taking over as the next chairman of the companies, reported AP.
Fox said that the 92-year-old would become chairman emeritus of both companies, and Lachlan will become News Corp chairman and continue as chief executive officer of Fox Corp.
“We are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies,” Lachlan Murdoch was quoted as saying. In a letter accessed by Reuters, Rupert Murdoch ensured Fox employees that the companies were “in robust health, as am I”.
“We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them. But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense,” the letter reportedly read.
His exit comes only months after he scrapped a plan that would have reunited his media empire by merging Fox and News Corp. Besides Fox News, the mogul started the Fox broadcast network, which went on to become the first news network to successfully challenge the ‘Big Three’ of ABC, CBS and NBC. He is the owner of the Wall Street Journal and the New York Post.
With agency inputs
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