After nearly seven decades at the helm of a global media behemoth, 92-year-old Rupert Murdoch is relinquishing his leadership roles at Fox Corporation and News Corp.
The transition, effective from November, will see his son, Lachlan Murdoch, assuming the position of sole chairman of both companies. Rupert, however, won’t be stepping away entirely. He’ll embrace the title of “Chairman Emeritus” at each entity.
In a heartfelt letter to his staff, Murdoch said,
“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.”
Born in Australia, Rupert Murdoch embarked on his media journey in 1954, taking control of a singular newspaper in Adelaide. His father, Keith Murdoch, was the chief editor of the Herald newspaper in Melbourne. Yet, it was Rupert’s vision that expanded the media venture into the giant it is today.
From the acquisition of the Sydney-based Daily Mirror in the 60s, the launch of The Australian in 1964, to the global growth that included News of the World, The Sun, and the revolutionary Fox News Channel, Murdoch’s influence is undeniable.
Speaking of the state of media, Murdoch’s memo held a strong stance.
“Self-serving bureaucracies are seeking to silence those who would question their provenance and purpose.
Elites have open contempt for those who are not members of their rarefied class.
Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.”
Recent times, however, have presented challenges. In April, Fox Corporation settled a defamation claim, agreeing to pay $US787.5 million to Dominion Voting Systems. Depositions revealed that Fox had perpetuated false narratives regarding the 2020 U.S. election results. Just a week later, the network parted ways with Tucker Carlson, a leading presenter.
Yet, in his letter, Murdoch expressed his undying faith in the companies he’s nurtured, commenting,
“Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges.
We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.”
Murdoch’s decision could shape the political landscape, especially in the U.S., where the Republican Party is gearing up for the presidential election next year. Critics like Malcolm Turnbull, a former Australian Prime Minister, have previously vocalised concerns over Murdoch’s overpowering influence on global media.
However, Lachlan Murdoch remains steadfast in supporting his father’s legacy. He said in a statement,
“We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted.”
As Rupert shifts gears, it’s evident his influence and dedication will remain a guiding force in the media world.
He blows