In a note to staff first reported in the Murdoch-controlled Wall Street Journal, he wrote: "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." Murdoch, 92, will become chairman emeritus of the two corporations, the company said in a release.
Lachlan Murdoch, 52, the mogul's eldest son, now seems to be his successor. In the note Murdoch called Lachlan a "passionate, principled leader" who can take the companies into the future.
Lachlan Murdoch said in a statement: "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.
"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 handover comes at a time of uncertainty in a media landscape that Murdoch dominated for so long. Fox is in a competition with much larger and better resourced broadcasters as Americans are swapping cable television for streamed entertainment, while News Corp, owner of the Times and the Sun newspapers in the UK, is battling for revenues as print sales fall away and advertising migrates to social media platforms.
Denne historien er fra September 22, 2023-utgaven av The Guardian.
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Denne historien er fra September 22, 2023-utgaven av The Guardian.
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