The 92-year-old mogul who shaped modern conservative political media is handing the reins to his son Lachlan in November
Australian media mogul and Fox News founder Ruper Murdoch has announced that at age 92 he will be stepping down as chairman of his flagship companies Fox and News Corp, and adopting a role as “chairman emeritus.” The official title will transfer to his son Lachlan Murdoch, 52, in November.
“I am writing to let you all know that I have decided to transition to the role of Chairman
Emeritus at Fox and News [Corp],” Murdoch wrote in a letter to staff. “For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies.”
Murdoch made clear he has no plans to disappear completely. “In my new role, I can guarantee you that I will be involved every day in the contest of ideas. Our companies are communities, and I will be an active member of our community. I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice. When I visit your countries and companies, you can expect to see me in the office late on a Friday afternoon.”
Lachlan commented in a statement of his own. “On behalf of the FOX and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career,” he wrote. “We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted. We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies.”
This is a breaking news story and will be updated.
Source link: https://www.rollingstone.com/politics/politics-news/rupert-murdoch-steps-down-fox-news-1234829012/
