Media mogul Rupert Murdoch steps down from Fox, News Corp
Murdoch will pass on the leadership of his media empire to his son, Lachlan who will become News Corp. chairman and remain as Fox Corp. CEO
Media mogul Rupert Murdoch said Thursday, 21 September that he is stepping down from his position of chairman at the companies Fox Corporation and News Corp.
What do we know so far?
"I am writing to let you all know that I have decided to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News," Murdoch said, according to a memo to staff which was published by his outlets.
Murdoch, who was born in Australia but now holds US citizenship, is 92 years old. He will hand over the reins of his companies to his eldest son, 52-year-old Lachlan, who will take control in November.
Lachlan will become News Corp. chairman and remain as Fox Corp. CEO.
In response to his father's announcement, Lachlan said "we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies."
Murdoch's empire first emerged in Adelaide, Australia in the 1960s, with Rupert himself inheriting several newspapers from his father. In 2020, news outlet Forbes calculated the Murdoch family's net worth at around $19 billion (€17.8 billion)
What are some of the outlets owned by Murdoch?
Murdoch's companies own a large swath of news outlets across the US, UK and Australia. Many of these outlets have a notable conservative bent, partly influenced by Murdoch's own personal political views.
In the US, broadcaster Fox News features right-wing talk show personalities such as Sean Hannity, and was most recently the home of conservative voice Tucker Carlson. The outlet was recently sued by voting machine maker Dominion, which accused the outlet of defamation regarding its coverage of the 2020 US presidential election.
Another prominent Murdoch outlet in the US is the Wall Street Journal newspaper, known for its coverage of financial news. The paper often publishes investigative features on the corporate world and politics, with the editorial pages also publishing conservative op-eds from figures such as former George W. Bush adviser Karl Rove.
In the UK, The Times and its sister paper The Sunday Times are some of the country's leading political newspapers. The Times was the first newspaper to bear "Times" in its name, and was acquired by Murdoch in 1981.
Another Murdoch paper in the UK, The Sun, features everything from politics to showbiz to gossip. The Sun is the second-most circulated paper in the UK, behind Metro.
In Australia, the right-leaning Harald Sun is the country's most widely circulated. Murdoch outlets down under also include The Australian, The Daily Telegraph and website News.com.au, along with broadcaster Sky News Australia.
Murdoch's media empire is believed to have influenced public opinion in Anglophone countries, and are believed to have pushed the UK's exit from the EU and the Republican candidacy of Donald Trump, who took the White House in 2016 in a shock win.
Published: 22 Sep 2023, 12:36 PM