Rupert Murdoch , to Step Down As Head of, Fox Corp and News Corp.
According to a news release,
Murdoch will become chairman
emeritus of both corporations.
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, Rupert Murdoch, news release, via NBC.
In my new role, I can guarantee
you that I will be involved every
day in the contest of ideas, Rupert Murdoch, news release, via NBC.
Murdoch's older son, Lachlan, will be named the sole chairman of both companies, NBC News reports.
I congratulate my father on
his remarkable 70-year career, Lachlan Murdoch, statement, via NBC.
We thank him for his vision,
his pioneering spirit, his steadfast
determination, and the enduring
legacy he leaves to the companies
he founded and countless
people he has impacted, Lachlan Murdoch, statement, via NBC.
NBC reports that Murdoch transformed a
small Australian newspaper business into a
massive international media empire, which
includes a movie studio and television network.
In 1996, Murdoch founded Fox News, a 24/7
network meant to compete with CNN, which has
emerged as a pillar of modern conservative media.
In April, Fox Corporation and Fox News avoided a
high-profile trial with a $787.5 million settlement for
promoting conspiracy theories regarding the 2020 election. .
In April, Fox Corporation and Fox News avoided a
high-profile trial with a $787.5 million settlement for
promoting conspiracy theories regarding the 2020 election.