Rupert Murdoch Takes Backseat as Chairman of Fox Corporation and News Corp
The companies announced last week that Rupert Murdoch will step down from his role as chairman of Fox Corporation and News Corp, at 92. By: Dylan Low
His son Lachlan Murdoch will now emerge as the sole chairman of News Corp, maintaining his position as executive chairman and CEO at Fox Corp, which is the holding company for Fox Entertainment.
Rupert Murdoch has released a statement saying, “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,” further saying that “our companies are in robust health, as am I.”
He stated he will remain “involved every day in the contest of ideas” and that the “battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.”
His official announcement to leave both roles as Chairman comes a year before the next United States presidential election.
It has been a hectic year for the company and its leadership, with their agreement to pay a US$787m settlement to Dominion Voting Systems after allegations broke out that Fox News stars defamed them with claims it affected the 2020 election results.
“I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas and advice. When I visit your countries and companies, you can expect to see me in the office late on a Friday afternoon.” Murdoch declared.
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