Rupert Murdoch makes way for Lachlan at Fox and News Corp

Fox Corporation and News Corp chairman Rupert Murdoch is to step down from his roles at both companies.

Rupert Murdoch

Murdoch, who is 92, will step back from day-to-day oversight to become chairman emeritus, handing control to his eldest son Lachlan Murdoch, who becomes chairman of News Corp and exec chair & CEO at Fox.

The elder media mogul is set to depart around 17 November, when Fox holds its next annual shareholder meeting.

In a note to staff, he said: “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.”

Turbulence & change

Rupert Murdoch’s exit comes ahead of the US elections next year and with Fox and News Corp facing ongoing turbulence.

Fox Corp recently had to pay almost $800m to settle a legal case with Dominion Voting Systems in the US, after it sued Fox News over its coverage of the 2020 presidential election and subsequent allegations it had rigged the result.

Fox is also facing another similar lawsuit from fellow voting firm Smartmatic, which is seeking damages of $2.7bn. Fox News host Tucker Carlson left the company following the allegations.

There have also been ongoing questions around Murdoch’s health, but he said that both companies “are in robust health, as am I”, adding that the “battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.”

The media mogul continued: “Self-serving bureaucracies are seeking to silence those who would question their provenance and purpose.

“Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.

“In my new role, I can guarantee you that I will be involved every day in the contest of ideas. Our companies are communities, and I will be an active member of our community,” he said, adding that he would continue to travel to Fox and News Crop offices.

He added that staff “can expect to see me in the office late on a Friday afternoon,” and said he urged staff “to make the most of this great opportunity to improve the world we live in.”