Rupert Murdoch, Fox News Founder, Resigns from Leadership Roles at Fox’s Parent Company and News Corp – Learn More
Lachlan Murdoch, his son, will assume the role of sole chairman for both companies.
Rupert Murdoch, Founder of Fox News, Resigns
Rupert, the 92-year-old media tycoon and founder of Fox News, is stepping down from leadership roles at Fox’s parent company and News Corp. He also owns the Wall Street Journal and the New York Post. Murdoch will now be the chairman emeritus at both organizations, as announced by Fox on Thursday, according to AP.
His son, Lachlan, will take on the role of chairman at News Corp. while continuing as CEO of Fox Corp. Lachlan Murdoch expressed appreciation for his father’s new chairman emeritus position and expected ongoing valuable advice for both companies.
Apart from Fox News, Murdoch initiated the Fox broadcast network, successfully challenging ABC, CBS, and NBC. Murdoch wields considerable influence in US conservative circles, as Fox News Channel has greatly shaped television and the nation’s political landscape since its establishment in 1996.
In a letter to employees, Murdoch promised to stay actively involved at Fox, emphasizing his commitment to engaging in daily discussions of ideas and recognizing the sense of community within the company. He also pledged to closely follow their broadcasts, publications, websites, and books.
BREAKING: My boss Rupert Murdoch is retiring. pic.twitter.com/vpgHUfNnx6
— Piers Morgan (@piersmorgan) September 21, 2023
Lachlan Murdoch congratulated his father on his impressive 70-year career on behalf of the Fox and News Corp boards of directors, leadership teams, and shareholders.
The exact reason for Murdoch’s announcement remains undisclosed, coinciding with the release of Michael Wolff’s book, “The End of Fox News,” speculating on the network’s future without Murdoch.
Forbes estimates Mr. Murdoch’s fortune at approximately $17 billion, including Fox News, the Wall Street Journal, The New York Post, and various other global media assets.
The media mogul, who has six children from his first three marriages, was married to Jerry Hall for six years. Before that, he was married to Wendi Deng from 1999 to 2013, Anna Maria Torv from 1967 to 1999, and Patricia Booker from 1956 to 1967.