Rupert Murdoch, the legendary head of News Corp. and Fox, is stepping down as chairman and will assume the role of chairman emeritus, marking the end of a remarkable seven-decade career. Murdoch’s media empire, which encompasses cable TV and tabloid newspapers, has made him one of the most influential media executives in the world.
Lachlan Murdoch, Rupert Murdoch’s eldest son, will become the sole chair of News Corp. while continuing to serve as the executive and CEO of Fox Corp., according to an official announcement by Fox. Rupert Murdoch will transition into his new position at the companies’ upcoming shareholder meetings in mid-November.
Rupert Murdoch, aged 92, departs from News Corp. and Fox during a time when these media businesses are facing various challenges, including the aftermath of a costly defamation lawsuit settlement of nearly $800 million. This lawsuit was filed against Fox News after it aired baseless claims suggesting that Dominion Voting Systems played a role in rigging the 2020 presidential election.
Murdoch achieved his status as one of the most influential media executives of the past 50 years by establishing a vast network of tabloids, cable and broadcast TV, and entertainment assets, many of which are known for promoting conservative ideas. He is also one of the wealthiest media executives globally, with a net worth of $8.3 billion, as reported by the Bloomberg Billionaires Index.
Political Influence as a Conservative Power Broker
Rupert Murdoch’s leadership at Fox and News Corp. granted him significant influence within anglophone conservative circles. Outlets such as Fox News are credited with boosting the careers and policies of numerous right-leaning politicians.
“He used the outlets in the U.K., Australia, and the U.S. to achieve certain types of policy outcomes and particularly certain types of political results, earning favors from politicians whose able trade in for political advantage,” said David Folkenflik, author of “Murdoch’s World: The Last of the Old Media Empires” and NPR’s media correspondent, in an interview with CBS News.
Folkenflik added, “Think of the invasion of Iraq in 2003, which he promoted through Fox News, through the New York Post and the Weekly Standard, which gave ballast to [then-President] George Bush.”
However, Murdoch’s support of conservative viewpoints also contributed to political outcomes that are now deemed “disastrous,” including Brexit in the U.K., as noted by Folkenflik. In the U.S., Murdoch privately expressed disapproval of former President Donald Trump, even as some Fox News hosts disseminated his falsehoods about the 2020 presidential election, which ultimately led to Fox News’ substantial settlement with Dominion.
Folkenflik stated that Murdoch allowed the promotion of election conspiracies on Fox News to retain Trump’s core voters, a significant portion of Fox News’ viewer base.
Transition Timing
In the official statement, Lachlan Murdoch expressed gratitude for his father’s continued counsel and praised his vision, pioneering spirit, unwavering determination, and lasting legacy. Lachlan Murdoch’s role as the successor to his father is now firmly established with Rupert Murdoch stepping back from a leadership position. He will oversee tabloids such as the New York Post, as well as Fox News and Fox Entertainment.
Murdoch emphasized in a memo shared with CBS News that he is stepping back while in good health but acknowledged that the “time is right for me to take on different roles.”
“Our companies are thriving, as am I,” he stated in the memo. The media mogul also described Lachlan Murdoch as “fully committed to the cause of freedom” while taking a veiled jab at “elites” who hold “open contempt for those who are not members of their rarefied class.”
From Newspaper Beginnings
Rupert Murdoch, a native Australian who later became a U.S. citizen, grew up in the media industry, as his father owned several Australian newspapers.
When Murdoch was studying at Oxford University, his father passed away, leaving his 21-year-old son in charge of The News and The Sunday Times. Murdoch subsequently increased the papers’ readership by focusing their coverage on scandal, sex, and crime—a formula he would refine throughout his extensive career.
In the 1960s, Murdoch began acquiring other Australian newspapers, eventually controlling two-thirds of the country’s newspaper circulation. In the 1970s, he expanded his operations beyond Australia, acquiring the News of the World and The Sun in the U.K., as well as The San Antonio Express-News, New York Post, and Village Voice in the U.S.
In 1985, Murdoch consolidated several TV stations under the umbrella of Fox Corp., which later led to the establishment of Fox News. Fox News quickly surpassed ABC, CBS, and NBC in terms of viewership.
Murdoch’s personal life was nearly as eventful as the stories covered by the tabloids he owned, with reports suggesting that the family’s internal power struggles inspired the hit HBO series “Succession.”
Who is Lachlan Murdoch?
The question of succession at News Corp. and Fox has long been a topic of speculation, given that Rupert Murdoch’s three adult children have varying degrees of involvement in the media industry and the family businesses.
Lachlan Murdoch, aged 52, currently holds the positions of executive chair and CEO of Fox Corp. He previously served as the publisher of the New York Post and oversaw book publisher HarperCollins. In 2015, Lachlan and his younger brother James, aged 50, were appointed to leadership roles within the family’s media empire, giving rise to speculation about their competition to succeed their father.
Patrick T. Fallon/Bloomberg via Getty Images
The elder son, James Murdoch, previously held the position of CEO of 21st Century Fox until its sale to Disney in 2019. In 2020, James Murdoch resigned from the board of News Corp. due to disagreements surrounding the company’s editorial decisions. He and his wife publicly criticized News Corp.’s coverage of Australia’s wildfires, which downplayed the role of human-driven climate change.
Meanwhile, Elisabeth Murdoch, aged 55, ventured out on her own to establish a production company called Shine in 2001. She later sold Shine to News Corp.
Lachlan is described as a genial figure but less ambitious than his father, according to Folkenflik. It remains to be seen if the empire can continue in the same manner.
