Rupert Murdoch steps down as Fox & News Corporation chair, eldest son Lachlan to take over
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Rupert Murdoch has announced on Thursday (September 21) that he will step down as Fox Corporation and Fox News chair.
In a memo he wrote to employees, the 92-year-old said: “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, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies.”
Murdoch has wielded tremendous influence in the Republican Party for decades as the leader of Fox and News Corporation, which produces prominent broadsheets such as The Wall Street Journal and tabloid New York Post.
Murdoch's eldest son, Lachlan, who already serves as CEO of Fox Corporation, will take over as sole chairman of both firms. Lachlan was regarded by Murdoch as "a passionate, principled leader."
The memo added: “My father firmly believed in freedom, and Lachlan is absolutely committed to the cause. Self- serving bureaucracies are seeking to silence those who would question their provenance and purpose.
"Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.”
With the 2024 presidential election heating up, Murdoch's decision to step aside as chairman of his firms will send shockwaves across the media sector and leave ripples pouring through the political waters.