Rupert Murdoch has retired as chairman of Fox Corp and News Corp after 70 years in the Media industry. As he previously stated, the “chairman emeritus” is preparing to hand things over to his son, Lachlan Murdoch, in November. After his retirement, Murdoch assured that he would always remain with the company.
There are rumors about who will be the next chairman among the four Murdoch children. He has always avoided the topic and believes the chips will “fall where they will.” However, a 2022 book revealed that the 92-year-old declared Lachlan his successor in 2017.
Rupert Murdoch Retires As Fox Chairman
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Murdoch retired from Fox News after decades as the company’s chairman. He announced this through Bill Hemmer, co-host of “America’s Newsroom” who revealed his plans live. Hemmer said, per People magazine“Our boss, Rupert Murdoch, is transitioning from chairman of our parent company Fox Corporation.”
He further revealed that Murdoch left a note explaining his feelings about resigning as chairman. Despite Murdoch’s decision, he will always remain part of the community and is “involved every day” with their progress. Hemmer stated, “He said he will still be an active member of the Fox community, reaching out with thoughts and ideas as he does every day.”
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Amid the rumors surrounding him and the company’s well-being, Murdoch confirmed that there was no major reason to retire. In the letter, he wrote, “Our company is in good health, and so am I. Our opportunities far outweigh our commercial challenges. We have every reason to be optimistic about the coming years. I certainly and plan to be here to participate in them.”
He then spoke about one of the company’s biggest motivations and supported his son, Lachlan, to carry on the legacy. “The battle for freedom of speech and ultimately freedom of thought has never been fiercer. My father believed strongly in freedom and Lachlan was fully committed to that cause.” Murdoch confirmed that the former executive chairman would take over from him in November.
Lachlan Murdoch Will Take Over As Chairman
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Murdoch’s eldest son, Lachlan, will take over as chairman in his father’s former position. He recently shared a statement per people magazine, congratulated his father on his retirement and over seven successful decades in the media industry.
He later expressed deep gratitude for his father’s “unwavering vision and pioneering spirit, steadfast determination and enduring legacy.” Lachlan highlights the impact he has had on many companies and the “countless people” he has positively influenced.
Before the news, people wanted to know which of Murdoch’s eldest children, Elisabeth, Prudence, Lachlan, and James, would succeed the media mogul. However, Murdoch himself is notorious for not saying much on this topic. According to an Irish Times article, Murdoch once said, “Let the chips fall as they will.”
However, Lachlan Murdoch has held key leadership positions in News Corp and 21st Century Fox for a long time. He previously worked as executive chairman and CEO of Fox Corporation in 2019, which includes major players such as Fox News and Fox Business. This marked a milestone in his career, as he had served as a senior executive in the organization.
Rupert Murdoch Previously Revealed His Successor
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Maggie Haberman documented the meeting between Murdoch and President Trump in her 2022 book “Confidence Man.” According to the book, the two discussed plans for the future of Murdoch’s company, including who would take over from it. This is one of several other articles linking Trump to Fox News.
Haberman recounted that Trump and Murdoch were supposed to be talking about potential candidates for the White House chief of staff position. However, Trump’s attention was elsewhere, and he spent about 30 minutes firmly expressing his concerns about what he perceived as a shift to the left in Fox News.
Trump reportedly stated, “It will be too liberal when James [Murdoch] take over,” referring to Murdoch’s son, who is widely expected to succeed his father. However, Murdoch clarified the matter by saying, “No, it will be Lachlan [Murdoch].” This marks one of the first times the succession plan has been made public.
Rupert Murdoch Pits His Sons Against Each Other
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Prior to Lachlan’s decision, Murdoch had remained nonchalant in public when asked who would replace him. However, according to a Vanity Fair article, he previously suggested that Lachlan would be next in line during a meeting with former US president Donald Trump.
The article explains that Murdoch believes in the “Darwinian struggle” and wants children to prove themselves to him. According to a source close to the Family, Murdoch “pitched his children against each other their entire lives.” According to the article, his daughter, Elisabeth, would make a suitable successor; however, he felt uncomfortable with a woman following him.
He reportedly quit the family business and started his own successful television company. Lachlan, on the other hand, shares Murdoch’s right-wing beliefs. They also have a lot in common, making them perfect for the role. Close family sources labeled him the “golden child”, hence Murdoch’s decision to make him his successor.
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Source: thtrangdai.edu.vn/en/
