Rupert Murdoch Steps Down (News21USA): Media mogul Rupert Murdoch, aged 92, has revealed his decision to step down from his positions as chairman of Fox Corporation and executive chairman of News Corp. In an announcement made via a letter, Murdoch expressed his good health and outlined his transition to the role of chairman emeritus, which is set to take effect in November. His son, Lachlan Murdoch, is poised to assume the sole chairmanship of both companies.
In his letter, Rupert Murdoch acknowledged his lifelong engagement with news and ideas and emphasized that this transition marks the right moment for him to take on new roles. He also expressed his pride in the collective achievements made over the decades, attributing much of the success to his dedicated colleagues.
Lachlan Murdoch responded with a congratulatory and appreciative letter, extending gratitude to his father for his remarkable 70-year career and highlighting the profound impact Rupert Murdoch has had on the FOX and News Corp boards, leadership teams, and shareholders.
Rupert Murdoch’s decision comes after a tumultuous period for Fox’s TV network, which recently settled a defamation lawsuit with Dominion Voting Systems for $787.5 million. This lawsuit arose from claims that Fox News knowingly broadcast falsehoods about the 2020 election. Additionally, a week after the settlement, Tucker Carlson, a prominent Fox News host, parted ways with the network.
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Rupert Murdoch’s illustrious career included serving as executive chairman of 21st Century Fox from 2015 until the merger with The Walt Disney Company in March 2019. Before that, he held the positions of CEO and chairman of 21st Century Fox, formerly known as News Corp, from 1979 to 2015 and from 1991 to 2015, respectively.»