His son Lachlan Murdoch will become the sole chairman of Fox News, and Rupert Murdoch will be appointed chairman emeritus of the two corporations.
His son Lachlan Murdoch will become the sole chairman of Fox News, and Rupert Murdoch will be appointed chairman emeritus of the two corporations, the company said in a press release.
“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch wrote in a memo to employees, CNN reported. “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.”
Rupert Murdoch led the global empire for nearly 70 years. The 92-year-old began in the newspaper business in Australia before becoming a Hollywood executive in 1985 when he purchased Twentieth Century Fox. He got into the TV business in 1986 after he purchased several U.S. television stations and created Fox Broadcasting. Fox News launched in 1996.
“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,” said Lachlan Murdoch.
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