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Rupert Murdoch steps down from News, Fox ​

The Australian-born media tycoon has announced he will step down from News Corp and Fox and hand over the reins to his son Lachlan.
b4d00e380e730aRupert Murdoch is stepping down with eldest son Lachlan Murdoch moving into the top role in the company’s media businesses. Picture: William West/ AFP3e7ffddb6375dd9136b?width=1024

b4d00e380e730aRupert Murdoch is stepping down with eldest son Lachlan Murdoch moving into the top role in the company’s media businesses. Picture: William West/ AFP3e7ffddb6375dd9136b?width=1024

Rupert Murdoch has announced he will step down from his leadership roles at News Corp and Fox after a seven-decade career. 

The Australian-born media tycoon will step aside for his eldest son, Lachlan Murdoch, who will become sole chair of News Corp and continue as executive chair and chief executive officer of Fox Corporation.

Mr Murdoch, 92, will remain in both roles until November, leaving after the firms’ respective annual general meetings. He will then take on the role of chairman emeritus. 

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Mr Murdoch said in a memo to all staff. 

“But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole chairman of both companies.
 

News Corp’s Rupert Murdoch is stepping down.
News Corp’s Rupert Murdoch is stepping down.


 
Rupert Murdoch and his eldest son Lachlan Murdoch. Picture: David Paul Morris/Bloomberg News
Rupert Murdoch and his eldest son Lachlan Murdoch. Picture: David Paul Morris/Bloomberg News
 

“Neither excessive pride nor false humility are admirable qualities. But I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me.

“Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication.’

Mr Murdoch also wrote in the memo to staff that “our companies are in robust health, as am I”. 

“Our opportunities far exceed our commercial challenges,” he wrote. “We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.

“But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.

“My father firmly believed in freedom, and Lachlan is absolutely committed to the cause. Self-serving bureaucracies are seeking to silence those who would question their provenance and purpose. 

“Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.”
 

Rupert and Lachlan Murdoch pictured in Australia in 2018. Picture: Richard Dobso
Rupert and Lachlan Murdoch pictured in Australia in 2018. Picture:
Richard Dobso

Rupert Murdoch at the 2015 Vanity Fair Oscar Party in Beverly Hills. Picture: Adrian Sanchez-Gonzalez / AFP
Rupert Murdoch at the 2015 Vanity Fair Oscar Party in Beverly Hills. Picture: Adrian Sanchez-Gonzalez / AFP


 
Rupert Murdoch, right, at the Courier Mail's building at Bowen Hills in 1987. Picture: Paul EdwardsThe Courier-Mail
Rupert Murdoch, right, at the Courier Mail's building at Bowen Hills in 1987. Picture: Paul EdwardsThe Courier-Mail
 

Mr Murdoch said, in his “new role”, he would still be involved every day in “the contest of ideas”. 

“Our companies are communities, and I will be an active member of our community,” he wrote. “I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice. When I visit your countries and companies, you can expect to see me in the office late on a Friday afternoon.”

Lachlan Murdoch congratulated his 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,” he wrote in a statement. 

“We are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies.”

In Australia, News Corp owns news.com.au along with titles including The Daily Telegraph and Herald Sun and Sky News.

Author: Editors Desk

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