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Rupert Murdoch to Step Down as NewsCorp and Fox Chair

In a memo addressed to staff, Murdoch expressed, “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. In my new role, I can guarantee you that I will be involved every day in the contest of ideas.”

He reassured that he would continue to be actively engaged in the communities of their companies, watching broadcasts with a discerning eye, reading their newspapers, websites, and books with great interest.

Following his departure, his eldest son, Lachlan Murdoch, will succeed him as the executive chair of both companies after their annual meetings. Rupert Murdoch praised Lachlan as a “passionate, principled leader” who shares his commitment to freedom.

He emphasized his concern about the silencing of those who question established bureaucracies and the contempt shown by elites towards those outside their circle. Murdoch stated, “Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.”

Lachlan Murdoch expressed gratitude for his father’s continued role as chairman emeritus and expected his valued counsel to benefit both companies.

Rupert Murdoch’s legacy includes the founding of the Fox broadcast network, which successfully challenged major networks like ABC, CBS, and NBC in the 1990s. His influence is most pronounced in the conservative world, with Fox News Channel shaping television and national politics since its launch in 1996.

Murdoch’s journey began in 1954 when he took control of Adelaide’s No. 2 newspaper, The News, and expanded his Australian media assets, establishing The Australian newspaper and acquiring prominent British tabloids, The News of the World and The Sun. He later added The Times newspaper and Harper Collins book publishers in the 1980s. In 2007, his company acquired The Wall Street Journal.

However, it was his entry into the US entertainment industry that marked a significant expansion of his empire. In 1985, News Corporation acquired Twentieth Century Fox Film Corporation, leading to the establishment of Fox News and Fox Sports.

Fox News, known for promoting right-wing ideologies, has been a source of controversy, with US President Joe Biden once branding Rupert Murdoch as “the most dangerous man in the world.”

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