Rupert Murdoch Out as Chairman of Fox and News Corps., Will Take New Position
Longtime Fox Corp. chairman and founder Rupert Murdoch will step down from his position and will no longer be the company’s chief decision-maker, Fox announced in a news release Thursday.
The 92-year-old will take on a new position as chairman emeritus of both Fox Corp. and News Corp., the release said.
Murdoch will take on the honorary title in two months.
“Following a career that began nearly 70 years ago in 1954, Fox Corporation … and News Corporation … announced today that 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,” the company said.
As the media magnate takes a step back, his son Lachlan will see a more pronounced role in running the family business.
“Mr. [Rupert] Murdoch will be appointed Chairman Emeritus of each company,” the news release said. “Following the Annual General Meetings, Lachlan Murdoch will become sole Chair of News Corp and continue as Executive Chair and Chief Executive Officer of Fox Corporation.”
“On behalf of the FOX and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career,” Lachlan Murdoch said in a statement.
“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,” the media scion added.
“We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies.”
Fox News hosts Bill Hemmer and Dana Perino announced the news live on “America’s Newsroom” on Thursday morning.
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
Hemmer shared a quote from his company’s founder.
“Our companies are in robust health and so am I,” Rupert Murdoch said. “The battle for the freedom of speech and ultimately the freedom of thought has never been more intense.”
Rupert Murdoch also said in the statement that his son is “absolutely committed” to protecting free speech.
The outgoing chairman founded what is now the Fox Broadcasting Co. in 1986 with only a handful of affiliates.
A decade later, in 1996, Fox News was launched.
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