Media mogul Rupert Murdoch, 92, has just announced his retirement from the chairmanships of Fox Corporation and News Corp, handing the reins to his son Lachlan. This decision marks a major transition within these two companies, particularly for the Fox News television channel, famous for its conservative editorial line.
Lachlan Murdoch, 52, is already chairman of Fox Corporation and has long been identified as his father’s designated successor. He will officially take over at the next general meeting of shareholders in November. Rupert Murdoch, for his part, will take on the role of Chairman Emeritus, a recognition of his hard work and success as a pioneer in the media industry.
The transition comes at a key time for Fox News, which has recently faced controversy and audience declines. Indeed, the channel was forced to pay a large sum in compensation to Dominion Voting Systems, manufacturer of electronic voting machines, to avoid a defamation lawsuit. Following this episode, Tucker Carlson, one of Fox News’ star presenters, left the channel, leading to a loss of audience.
For Lachlan Murdoch, taking the helm of the media empire founded by his father represents both a legacy to preserve and challenges to overcome. It will have to face a constantly evolving media industry, marked by the rise of streaming platforms and digital media. In addition, he will have to ensure that Fox News remains politically competitive, particularly in the run-up to the 2024 US presidential elections.
During his 70-year career, Rupert Murdoch left an undeniable mark on the global media landscape. His pioneering spirit and unwavering determination helped create a major media empire. There is no doubt that Lachlan Murdoch, with the experience and advice of his father, will be able to perpetuate this legacy and lead Fox Corporation and News Corp to new successes.
In conclusion, the removal of Rupert Murdoch from the chairmanships of Fox Corporation and News Corp marks a major milestone in the history of these companies. Lachlan Murdoch will take over amid challenges and developments in the media industry. The success of this transition will rely on the ability to maintain Fox News’ dominance while adapting to new modes of media consumption.