Resignation: Media mogul Rupert Murdoch relinquishes leadership of his company

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Rupert Murdoch hands over leadership of his media companies

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Murdoch relinquishes leadership of the Fox Group at the age of 92

Media mogul Rupert Murdoch resigns as head of the US Fox Group and the publisher News Corp. The 92-year-old billionaire’s successor has already been determined: Murdoch’s son Lachlan will be the new chairman.

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The powerful media entrepreneur Rupert Murdoch steps down as head of the US Fox Group and the publisher News Corp. back. According to the TV channel Fox News, he announced that management of the company would be handed over to his son Lachlan.

MBillionaire Rupert Murdoch resigns as head of publisher News Corp and media company Fox Corporation. Fox News said Thursday that Murdoch’s son Lachlan will succeed his father as the new chairman of News Corp and remain CEO of Fox Corp. The 92-year-old will become honorary chairman of both companies. Lachlan said they were grateful that Rupert Murdoch would be taking on the role. He will continue to support both companies with valuable advice.

Australian-born Murdoch is considered one of the most powerful media entrepreneurs in the world. He has been a US citizen since 1985. 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.

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In a letter to employees, Murdoch said he would continue to contribute to the company. “I can guarantee you that in my new role I will be involved in the competition of ideas every day. Our companies are communities and I will be an active member of our community. I will watch our programs with a critical eye and read our newspapers and websites and books with interest.”

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There was initially no explanation as to why Murdoch was resigning now. There had been speculation about such a move for years. Just this week, Murdoch biographer Michael Wolff published his book “The End of Fox News” about the channel’s future after the Rupert Murdoch era.

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