The media magnate Rupert Murdoch is planning to step down from his positions as Chair of Fox Corporation and Executive Chairman of News Corp. in the near future. The news was delivered to his coworkers in the form of a letter, in which he also stated that he is in excellent health and that his son Lachlan will take over as the only chairman of both firms. The month of November is set to mark the beginning of this change.
Murdoch praised his coworkers for their contributions and expressed his delight in the accomplishments that the firms had collectively achieved in the letter that he wrote. In addition to this, he said that he will continue to participate in the “contest of ideas” in his new capacity as Chairman Emeritus.
In a statement, Lachlan Murdoch congratulated his father on his extraordinary seventy-year career and commended his father for the vision he had and the influence he had on the company.
Since its inception in 1996, Rupert Murdoch’s media empire includes FOX News Channel, which has established itself as a preeminent power in the provision of round-the-clock news coverage. With stakes in newspapers, television stations, and other media outlets in a number of nations, Murdoch has been able to have a large amount of influence on the media landscape throughout the world.
This change in leadership signifies a fundamental shift in the direction that these powerful media corporations will take moving forward.
