Rupert Murdoch: Media tycoon Rupert Murdoch, aged 92, has announced his decision to step down as chairman of both Fox and News Corp, according to BBC reports. His son, Lachlan Murdoch, will assume the role of sole chairman of News Corp and will continue as the chair and CEO of Fox. Rupert Murdoch will take on the position of chairman emeritus, overseeing both companies, as reported by The New York Times.
Rupert Murdoch’s Statement:
In a memo addressed to employees, Rupert Murdoch expressed his perspective on this significant change. He acknowledged his lifelong engagement with news and ideas but emphasized the right timing to assume different roles. He praised the talented teams and his son, Lachlan, whom he referred to as a passionate and principled leader. He also conveyed his pride in the collective achievements over the decades and his gratitude towards his colleagues for their contributions to the company’s success.
Lachlan Murdoch’s Response:
Lachlan Murdoch, in a statement, extended his congratulations to his father for his remarkable 70-year career. He spoke on behalf of the boards of directors, leadership teams, and shareholders who have benefited from Rupert Murdoch’s hard work.
Rupert Murdoch is renowned for launching Fox News in 1996, which emerged as a formidable competitor to CNN and eventually became the leading cable news channel in the United States. His media empire includes influential assets such as Fox News, the Wall Street Journal, The New York Post, and a global network of media entities.
According to Forbes, Rupert Murdoch is estimated to possess a fortune of approximately $17 billion. His influence extends across diverse media platforms worldwide.
Rupert Murdoch has been married four times and has six children from his first three marriages. His most recent marriage was to Jerry Hall, lasting six years. Prior to that, he was married to Wendi Deng from 1999 to 2013, Anna Maria Torv from 1967 to 1999, and Patricia Booker from 1956 to 1967.
This transition marks a significant change in the leadership of two major media companies, with Rupert Murdoch entrusting the reins to his son Lachlan as he continues to guide their collective journey in the world of media and news.
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