Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Can Trump wield his big stick?
access_time 22 Nov 2024 10:39 AM GMT
election commmission
access_time 22 Nov 2024 4:02 AM GMT
Champions Trophy tournament
access_time 21 Nov 2024 5:00 AM GMT
The illness in health care
access_time 20 Nov 2024 5:00 AM GMT
The fire in Manipur should be put out
access_time 21 Nov 2024 9:19 AM GMT
America should also be isolated
access_time 18 Nov 2024 11:57 AM GMT
DEEP READ
Munambam Waqf issue decoded
access_time 16 Nov 2024 5:18 PM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Foreign espionage in the UK
access_time 22 Oct 2024 8:38 AM GMT
exit_to_app
Homechevron_rightBusinesschevron_rightRupert Murdoch, Fox...

Rupert Murdoch, Fox News founder resigns; son Lachlan takes helm

text_fields
bookmark_border
Rupert Murdoch, Fox News founder resigns; son Lachlan takes helm
cancel

New Delhi: Rupert Murdoch, a controversial media mogul, has ended his nearly 70-year career after stepping down as chairman of Fox Corp. and News Corp., bringing to a close a career that saw him establish a commercial empire that stretched from Australia to the United States.

All succession issues within the Murdoch family have now been resolved when his eldest son Lachlan Murdoch, 52, takes over as sole chairman of News Corp and retains his position as executive chair and CEO of Fox Corp.

Fox said in an announcement on Thursday that Rupert Murdoch, 92, would become chairman emeritus of both companies.

In a note to staff reported in the Murdoch-controlled Wall Street Journal, he wrote: "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."

"Our companies are in robust health, as am I. We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them," it added.

In the note Murdoch also referred to Lachlan as a "passionate, principled leader" who can take the companies into the future.

There was a split in the Murdoch family over succession after decades of wrangling, which saw his younger son James quit the business. However, his daughter Elizabeth had stayed away from the battle for succession.

The Fox founder's decision to step down comes just months after his news network paid over $787.5 million to settle a defamation suit filed by voting equipment company Dominion.

The company had accused Fox of knowingly broadcasting outlandish allegations that it was involved in a plot to steal the 2020 election.


With inputs from IANS

Show Full Article
TAGS:Rupert MurdochFox NewsWorld News
Next Story