Rupert Murdoch Steps Down from Executive Positions in News Corporations

Rupert Murdoch, the media mogul and founder of News Corporation, is retiring from his executive roles after 70 years in the media industry. His eldest son, Lachlan Murdoch, will replace him as the chairman of both Fox and News Corp in November of this year.

A New Era

In a message to employees, Murdoch stated that now is the right time for him to take on new roles and dismissed speculations about his health. He assured everyone that both companies are in good health and have promising opportunities ahead. He expressed his optimism for the coming years and emphasized his continued involvement in the businesses.

Replacing Rupert Murdoch as the chairman of News Corp and Fox is his eldest son, Lachlan Murdoch. Lachlan has previously been involved in the management of the companies and is well-suited to take on this role.

A Family Legacy

Rupert Murdoch has made efforts to involve all six of his children in the family business. However, James Murdoch, his younger son, left the board of News Corp in 2020 due to disagreements about the company’s direction and editorial content. On the other hand, his daughter Elisabeth has found success with her own television station, Shine, which has produced globally recognized programs such as MasterChef and The Biggest Loser.

Challenges Ahead

Lachlan Murdoch will be stepping into his new role during a turbulent time for the media companies. Fox News, which strongly supported Donald Trump during his presidential campaign, is facing a $787.5 million settlement for publishing false information about Dominion Voting Systems. Additionally, the station is also facing a similar lawsuit from Smartmatic, which is seeking $2.7 billion in damages.

Furthermore, Fox News recently parted ways with its popular anchor Tucker Carlson, adding to the challenges the new chairman will face. Despite these obstacles, Fox News plays a crucial role in American politics, particularly during the upcoming presidential elections.

A Remarkable Career

Rupert Murdoch, an Australian-born billionaire, entered the world of journalism in the 1950s after studying at Oxford and working for the Daily Express in London. He later returned to Australia and inherited the Sunday Mail and The News from his late father, who was a renowned war journalist.

Murdoch went on to acquire British newspapers such as The News of the World and The Sun, building the most widely read tabloid in the UK. He also added the American New York Post and the Wall Street Journal to his media empire, which now spans across the globe.

However, Murdoch’s career has not been without controversy. One of his most notable missteps was the acquisition of the social network Myspace in 2005, which he later sold for a fraction of the price. Additionally, the phone hacking scandal involving The News of the World tarnished the reputation of Murdoch’s media empire and led to significant financial settlements.

Read More of this Story at openiazoch.zoznam.sk – 2023-10-08 22:01:25

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