Fox And News Corporation Chairman Rupert Murdoch Steps Down From His Position
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Rupert Murdoch who was the chairman of Fox Corporation as well as News Corporation has stepped down from his position. The powerful media mogul who is a right-wing supporter has shocked many with his decision. Rupert Murdoch oversaw and built one of the most influential news empires in the world, Fox and News Corporation.
On Thursday Murdoch announced that he will step down from his position as chairman saying “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.”
At 92 years of age the leader of Fox and News Corporation was publishing influential broadsheets like The Wall Street Journal and the New York Post. Rupert Murdoch has commanded influence for decades on the Republican Party that only few can match.
Murdoch’s decision has sent shockwaves in the political world as the 2024 presidential election race nears. His retirement comes at a moment when the presidential election is set to heat up. Again his decision to retire comes at a time when the media industry is beginning to transform from traditional television and movies to streaming services.
Fox News is at the forefront of supporting former U.S. President Donald Trump as he faces several litigation. The network has shown support for the former president and meddled in the 2020 elections by supporting Trump.
As the 92-year-old steps down from Fox and News Corporation chairman position his eldest son will take over. Lachlan Murdoch who is the eldest son of Rupert will replace his father as chairman for Fox and News Corporations. Lachlan previously served as the Fox Corporation’s Chief Executive Officer. His father describes him as “a passionate, principled leader.” But what remains unclear is if Fox will change direction under Lachlan’s leadership.