Media mogul Rupert Murdoch is officially stepping down as chairman of Fox Corporation and Executive Chairman of News Corp. His son Lachlan will become the sole chairman of both companies.
At 92, Murdoch noted that he’s in good health as he transitions to his role as “Chairman Emeritus.”
“I am writing to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News,” Murdoch wrote in a letter about his decision. (Trending: Trump Gets Big Win in Georgia Court)
RUPERT MURDOCH TO STEP DOWN AS CHAIR OF FOX AND NEWS CORP AFTER SEVEN-DECADE CAREER. Announced today, Rupert Murdoch is stepping down as chairman of each board effective as of the upcoming Annual General Meeting of Shareholders of each company in mid-November. Mr. Murdoch will be… pic.twitter.com/3c2ZjA708Z
— America's Newsroom (@AmericaNewsroom) September 21, 2023
“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.”
“Neither excessive pride nor false humility are admirable qualities. But I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me,” he continued.
“Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication. Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.” (Trending: Joe Biden Slammed For Racist Remark)
BREAKING: Rupert Murdoch is stepping down as the chairman of Fox Corporation and News Corp. His son, Lachlan, will take over the role. https://t.co/lS2bmGwjlC pic.twitter.com/gGaTFLgCoS
— ABC News (@ABC) September 21, 2023
Murdoch took control of News Limited in the 1950s. The 20-year-old went on to buy and create Australian newspapers and eventually gained control of the United Kingdom’s News of the World and The Sun in 1969.
Murdoch purchased several U.S. publications, including the New York Post and The Village Voice. (Trending: AOC Dealt A Heavy Dose of Reality)
News Corporation was established in 1980 to consolidate international operations.
The FOX Broadcasting company was launched in 1986.
As he steps down, Murdoch is known for redefining the U.S. media landscape.
