Fox News and News Corp. Chairman Rupert Murdoch revealed he would be stepping down from his roles with both entities.
“Following a career that began nearly 70 years ago in 1951, Fox Corp. and News Corp. announced today that Rupert Murdoch is stepping down as chairman of each board effective as of the upcoming Annual General Meeting of Shareholders of each company in mid-November,” Murdoch’s letter said.
🚨#BREAKING: Rupert Murdoch stepping down
— Sara Fischer (@sarafischer) September 21, 2023
"Following a career that began nearly 70 years ago in 1954, Fox Corp. and News Corp. announced today that Rupert Murdoch is stepping down as chairman of each board" effective in mid-November.
— Will be appointed chair emeritus of both pic.twitter.com/6ISU4iDlgl
His son, Lachlan Murdoch, will take over as chairman for both Fox News and News Corp.
“On behalf of the FOX and News Corp. boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career,” Lachlan Murdoch wrote. “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.”
Rupert Murdoch is Australian-born and worked in the industry for nearly seven decades, according to the statement from News Corp. The company owns a multitude of media properties, including The Wall Street Journal, the New York Post and HarperCollins Publishers.
In April, Fox News agreed to pay $787.5 million to settle a lawsuit brought by Dominion Voting Systems. Dominion alleged defamation centered on the coverage of the 2020 election.