Control ofRupert Murdoch’s conservative media empire will soon be passed down to his eldest son, Lachlan Murdoch, as the mogul prepares for retirement.
On Thursday morning,Fox News announcedthat Rupert, 92, made the decision to step down as chairman of Fox Corp and News Corp in November, transferring his authority to Lachlan, 52, as he assumes an honorary “chairman emeritus” status.
America’s Newsroomco-host Bill Hemmer revealed the succession plan live on air, saying, “Our boss, Rupert Murdoch, is transitioning from chair of our parent company Fox Corporation.”
“In his note, Rupert says that for his entire professional life, he’s been ‘engaged daily with news and ideas and that will not change,'” Hemmer said. “And he says he will still be an active member of the Fox community, reaching out with thoughts and ideas as he does every day.”
Steven Ferdman/Getty Images; Gregg DeGuire/FilmMagic
Murdoch added that he and the companies are doing well, shutting down any potential speculation for his decision.
“Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about our coming years. I certainly am and plan to be here to participate in them,” Rupert wrote in the letter. “But the battle for the freedom of speech and ultimately the freedom of thought has never been more intense. My father firmly believed in freedom and Lachlan is absolutely committed to the cause.”
Rupert and Lachlan Murdoch at a technology conference in Idaho on July 13, 2018.David Paul Morris/Bloomberg via Getty Images
David Paul Morris/Bloomberg via Getty Images
In a news release, Lachlan congratulated his father for a 70-year career in media, saying, “We thank him for his vision and his pioneering spirit, his steadfast determination and the enduring legacy he leaves at the companies he founded and countless people he has impacted.”
Over the years, there was public speculation about each of Rupert’s four older children — Prudence,Elisabeth, Lachlan and James — and their potential to be the next leader. But Rupert himself was notorious for avoiding the topic: “Let the chips fall where they will,” he once said,according toThe Irish Times.
Lachlan and Rupert Murdoch attend the TIME 100 Gala on April 21, 2015, in New York City.Gary Gershoff/WireImage
Gary Gershoff/WireImage
In April 2023,Vanity Fairpublished an article indicating that Rupert believes a “Darwinian struggle” will produce the most capable successor. “He pitted his kids against each other their entire lives. It’s sad,” a person close to the family told the outlet.
Lachlan studied philosophy at Princeton University, earning his B.A. in 1994.
source: people.com
