When examining the surprising news of Rupert Murdoch stepping down from his media empire, Jack Shafer of Politico cannot help but notice that Murdoch never explicitly uses the term “retirement” in his statement. Rather, the 92-year-old makes it clear that he will continue to have a say in decisions as his son Lachlan ostensibly takes control at News Corp. and Fox News. This should come as no surprise. According to Shafer, “The notion that Murdoch would relinquish power before his death goes against everything we know about him. The idea that he would even give up power posthumously is equally absurd.”
It is within the context of this final point that the “retirement” announcement begins to make sense. For Murdoch’s empire to endure following his passing, his children must agree for it to do so, and at present, that seems unlikely. Shafer writes, “Perhaps Murdoch believes he still has enough time to assist Lachlan in convincing James, Elizabeth, and Prudence that Lachlan possesses his father’s skills and vision and should be entrusted to continue his legacy.” Therefore, this move is more like a “trial balloon for the Lachlan Regency” than an actual retirement notice. Shafer even suggests that Murdoch may reverse his decision, as he has done in the past. (Read the full piece.)
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