Media magnate Rupert Murdoch is stepping down as the leader of both Fox News’ parent company and his News Corp media holdings, with his son, Lachlan, set to take his place
NEW YORK — Media magnate Rupert Murdoch on Monday announced that he would be stepping down as the leader of both Fox News' parent company and his News Corp media holdings — with his son, Lachlan, set to take his place.
Through his decades-long career, Murdoch, 92, built an empire — beginning with his father's newspaper in Adelaide, Australia — and became a multibillionaire. In the U.S., his creation of Fox News has notably influenced American politics, making Murdoch a hero to some and pariah to others.
Over the years, Murdoch's family has also risen into the spotlight — accompanied by stories of vindictive business tactics and inter-family rivalries. Murdoch and his family, particularly children James, Lachlan, Elisabeth and Prudence, were said to be the model of the HBO show “Succession.”
Murdoch has been married four times and shares six children with three of his wives.
Lachlan Murdoch is one of Murdoch's sons with his second wife, Anna. With his father stepping down, Lachlan is set to become News Corp. chairman and continue as chief executive officer of Fox Corp., home to conservative news network Fox News, the Fox broadcast and sports networks, and local TV stations.
Lachlan has been CEO for Fox Corp. since 2019, following Disney's acquisition of 21st Century Fox. Before the merger, he served as executive chairman of 21st Century Fox, starting in 2015 — while his brother, James, was CEO of Fox's then-entertainment business in what analysts described as a competitive power-share concocted by their father.
Lachlan rose to executive ranks of the
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