Reports announced media magnate Rupert Murdoch said that he would be stepping down from his positions as Executive Chairman of News Corp. and Chair of Fox Corporation.
Murdoch, 92, sent a letter to his workforce on Thursday informing them of his decision and stating that he was in excellent condition. In November, he will formally step down from his position as chairman of both firms, and his son Lachlan will take on that role full-time.
The fight for free expression and uninhibited thinking, Murdoch said, has never been more fierce, and he vowed that his family will never abandon the cause. He said that the media was colluding with elites that promoted narratives rather than investigating facts.
In a statement, Lachlan Murdoch praised his father and his successful businesses.
A report shows that in 2020, James Murdoch, the younger son of the media mogul, left the news industry.
He declared that he could not sit on the company’s board of directors, citing disagreements over the writing embraced by the newspapers in the family’s News Corp group of companies, which includes the New York Post, Wall Street Journal, the Australian, The Times, and the Sun.
James’ opinions on the state of American politics also played a role. The most liberal Murdoch gives money to far-left causes.
FOX News Channel, part of Murdoch’s media conglomerate, has been at the forefront of 24-hour news coverage since its 1996 debut under News Corp. It just celebrated its silver anniversary as one of the most potent news sources overall in the world, and it has routinely outperformed its rivals in the ratings.
From 2015 until the consolidation of The Walt Disney Company and 21st Century Fox was finalized in March 2019, Murdoch served as Executive Chairman of 21st Century Fox.
From the company’s foundation as News Corporation in 1979 until 2015, Murdoch was CEO of 21st Century Fox. He also served as the company’s Chairman from 1991 through2015.