Media tycoon Rupert Murdoch, 92, has made the decision to resign from his position as chairman of Fox Corp and News Corp., marking a dramatic change in leadership. His 52-year-old eldest son Lachlan will now lead his father’s conservative media conglomerate. Fox News made the official announcement of this change on Thursday morning, stating that Rupert would now be an honorary “chairman emeritus.”
In a live broadcast, America’s Newsroom co-host Bill Hemmer revealed the succession plan and said that Rupert Murdoch has taken this step after a lifetime of actively engaging with news and ideas on a daily basis. Hemmer expressed Rupert’s guarantee that this enthusiasm will endure, as the seasoned media tycoon will remain an engaged participant in the Fox community, offering his usual insights and opinions.
Rupert Murdoch has downplayed any possible rumors about his decision and stressed that his firms are still in good shape. He emphasized the eternal value of freedom of speech and opinion in a letter addressing the changeover, and he emphasized Lachlan’s steadfast adherence to these ideals.
“Myself and our company are doing well. Our business challenges are significantly smaller than our prospects. Regarding the years ahead of us, we have every cause to be positive. Rupert Murdoch wrote in the letter, “I certainly am and plan to be here to participate in them.” But there has never been a more fierce struggle for the right to free speech and, eventually, free thought. My father was a staunch supporter of independence, and Lachlan is fully dedicated to the cause.”
Lachlan Murdoch conveyed his appreciation for his father’s seventy-year media career, recognizing his vision, spirit of innovation, perseverance, and enduring influence on the businesses he established and the innumerable people he touched.
Rumors have long circulated about who of Rupert Murdoch’s four elder children—Prudence, Elisabeth, Lachlan, and James—might succeed him. Rupert, though, has a reputation for being reluctant to talk about the subject and has even said to “Let the chips fall where they will.”
The competitive dynamics inside the family were reflected in an April 2023 Vanity Fair piece that suggested Rupert believed in a “Darwinian struggle” to identify who was the most capable heir. After taking over as executive chair and CEO of the Fox Corporation in 2019, Lachlan Murdoch has been a well-known figure at News Corp and 21st Century Fox for a considerable amount of time. In fact, according to Maggie Haberman’s book “Confidence Man,” during a 2017 meeting with Donald Trump, Murdoch named Lachlan as his successor.
At Princeton University, Lachlan Murdoch studied philosophy and graduated with a B.A. in 1994. All eyes are on him as he assumes this crucial position and considers how he will lead his father’s media empire in the changing media environment.