Rupert Murdoch, the media mogul who built a global empire that includes Fox News and News Corp., has stepped down from his remaining executive positions at the companies. His son, Lachlan Murdoch, has now taken over fully as chairman and CEO of both companies.
The elder Murdoch announced his retirement in September 2023, but he remained chairman emeritus of Fox and News Corp. He has now stepped down from that position as well.
Lachlan Murdoch has been involved in the family media business since he was a teenager. He served as CEO of Fox from 2015 to 2020 and has been chairman of News Corp since 2019. He is seen as a more moderate conservative than his father.
In a statement, Lachlan Murdoch said that he was ” honored to succeed my father as chairman and CEO of Fox News and News Corp.” He said that he was committed to ” upholding the values and traditions of these great companies” and to “leading them into the future.”
Rupert Murdoch’s departure is the end of an era for Fox News and News Corp. He is one of the most influential media moguls of all time and is credited with revolutionizing the industry. However, he has also been criticized for his conservative political views and his role in spreading misinformation.
It is unclear how Lachlan Murdoch will lead the companies differently than his father. However, it is likely that he will focus on expanding the companies’ digital reach and on developing new business models. He has also said that he is committed to making Fox News more inclusive and to promoting diversity within the company.
Lachlan Murdoch is taking over the companies at a time when they are facing a number of challenges. The media industry is undergoing rapid change, and Fox News is facing increasing competition from other news outlets. However, Lachlan Murdoch has a proven track record as a business leader, and he is seen as someone who can help the companies adapt to the changing landscape.
Possible changes under Lachlan Murdoch
Some analysts believe that Lachlan Murdoch may make some changes to Fox News and News Corp. in order to make them more appealing to a wider audience. For example, he may try to make Fox News more moderate and less partisan. He may also try to expand the companies’ digital reach and to develop new business models.
However, it is also possible that Lachlan Murdoch will not make any major changes to the companies. He has said that he is committed to upholding the values and traditions of Fox News and News Corp., so it is likely that he will keep the companies’ conservative editorial bent.
Only time will tell how Lachlan Murdoch will lead Fox News and News Corp. However, it is clear that he is a talented businessman with a vision for the future.