Rupert Murdoch, the longtime head of News Corp. and Fox, will step down as chairman and take on the role of emeritus chairman, Fox announced Thursday.
Lachlan Murdoch, one of Rupert Murdoch’s sons, will become the sole chair of News Corp. and continue as executive and CEO of Fox Corp.
Rupert Murdoch, 92, is exiting News Corp. and Fox at a time the media businesses are facing a number of challenges, including a bruising trial — and nearly $800 million settlement — over a defamation lawsuit after Fox News aired unfounded claims that Dominion voting systems were used to rig the 2020 presidential election.
Murdoch became one of the foremost media executives of the last half century by building a network of tabloids, cable and broadcast TV, and entertainment assets, many known for espousing conservative ideas.
In the statement, Lachlan Murdoch said his father would “continue to provide valued counsel to both companies.”
This story was originally published by CBS News’ Moneywatch on Sept. 21, 2023.
RELATED CONTENT:
As international travel continues to grow, the World Travel & Tourism Council (WTTC) encourages proactive…
Mini is testing a rugged new Countryman Edition prototype in the Rocky Mountains. The special…
Maintaining the ability to handle everyday tasks without severe or limiting symptoms is an important…
Amazon built AWS into the backbone of its business. Jeff Bezos believes custom computer chips…
India had another successful day in Glasgow as long jumper Murali Sreeshankar won his second…
Hotel groups are under increasing pressure to standardise quality across properties while reducing operational costs.…