Rupert Murdoch is stepping down from his roles as the chairman of the Fox Corporation and the executive chairman at News Corp. The Australian billionaire will serve as chairman emeritus at both companies.
In a letter to colleagues, Murdoch announced that his son, Lachlan, would become the sole chairman of both media companies. “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,” Murdoch wrote.
RUPERT MURDOCH TO STEP DOWN AS CHAIR OF FOX AND NEWS CORP AFTER SEVEN-DECADE CAREER. Announced today, Rupert Murdoch is stepping down as chairman of each board effective as of the upcoming Annual General Meeting of Shareholders of each company in mid-November. Mr. Murdoch will be… pic.twitter.com/3c2ZjA708Z
— America's Newsroom (@AmericaNewsroom) September 21, 2023