Rupert Murdoch, the media mogul who built Fox News into a global powerhouse, is retiring from the boards of Fox Corporation and News Corp., the companies announced on Thursday, September 21, 2023.
Murdoch, 91, is stepping down after a career spanning more than seven decades. He began his media empire in Australia in the 1950s and expanded to the United States in the 1980s. He founded Fox News in 1996, and it quickly became the most popular cable news channel in the country.
Murdoch’s retirement marks the end of an era in media. He is one of the most influential media figures of all time, and his companies have shaped the way news and information is consumed around the world.
Murdoch’s son, Lachlan Murdoch, has been named chairman of both Fox Corporation and News Corp. Lachlan Murdoch has been involved in the family business for many years, and he has served as CEO of Fox Corporation since 2019.
Impact of Murdoch’s Retirement
It is unclear what impact Murdoch’s retirement will have on Fox Corporation and News Corp. Lachlan Murdoch is a seasoned executive, and he is expected to continue to run the companies in a similar manner. However, Murdoch’s absence will leave a void in the media landscape. He is a larger-than-life figure, and his companies have been at the center of many of the most important media stories of the past few decades.
Rupert Murdoch’s retirement is a major event in the media world. He is one of the most influential media figures of all time, and his companies have shaped the way news and information is consumed around the world. It remains to be seen what impact his retirement will have on Fox Corporation and News Corp., but it is clear that the media landscape will be different without him.