Media entrepreneur Rupert Murdoch is stepping down as chairman of the US Fox Group and the publisher News Corp – he is 92 years old. His successor is also a Murdoch.
Rupert Murdoch is stepping down as chairman of Fox and News Corp, ending a career spanning more than seven decades. The 92-year-old is handing over the baton to his son Lachlan Murdoch, it was announced today. The 52-year-old will become sole chairman of News Corp and continue as chairman and CEO of Fox, both companies said.
“We have every reason to be optimistic about the next few years,” said Murdoch Senior in a letter to employees: “Our opportunities far exceed our business challenges.”
Media empire from Australia to the USA
Both companies Fox and News Corp are “in robust health – as am I,” wrote Rupert Murdoch to the company’s employees. The fight for freedom of expression and ultimately for freedom of thought has never been as intense as it is today.
Murdoch has created a media empire that stretches from Australia to the United States. The manager decided some time ago not to merge Fox and News Corp. Murdoch, who has a near-majority stake in both companies, is named Chairman Emeritus of both companies. Lachlan said they were grateful that his father would be taking on the role. Rupert Murdoch will continue to provide both companies with valuable advice.
Extremely conservative broadcasting group
Murdoch is considered one of the most powerful media entrepreneurs in the world. The channel he founded, Fox News, has been a leading medium for conservatives in the USA since its launch in 1996 and has had a decisive influence on the country’s politics. With the Fox channel group, he was the first to successfully take market share from the three major US channels ABC, CBS and NBC.
Murdoch also owns the Wall Street Journal and the New York Post. New York-based News Corp also publishes major newspapers in Australia and the United Kingdom and owns publishing house HarperCollins.