Rupert Murdoch, who built the media empire, retires and passes responsibility to his son Lachlan Murdoch.
A media empire built by Rupert Murdoch, 92, retires from the boards of US companies Fox Corporation and News Corporation. Murdoch is the major owner of media giant Fox.
The retirement is reported, among other things, by a US magazine The New York Times and several other US media.
According to the newspaper, Murdoch’s successor will be his son Lachlan Murdoch.
Rupert Murdoch continues as chairman emeritus of the two companies.
In the release, Lachlan Murdoch, 52, thanks his father for his determined and visionary work at the company’s management.
Murdoch’s career in the media world began in Australia in the 1950s, when he inherited the News of Adelaide newspaper from his father.
After this, he bought a couple of local newspapers and later founded the country’s first national general newspaper. Murdoch eventually controlled nearly two-thirds of the Australian newspaper market.
Since then, Murdoch expanded his operations to Britain and finally to the United States.
More than 200 local television channels, the cable news channel Fox News and several sports channels already operate under the Fox name.
Mixed In Britain and the United States, Murdoch’s media business got a boost from influential politicians.
When Murdoch wanted to expand his operations in Britain from tabloids to quality magazines and television, he ran into British media legislation that aims to prevent the creation of media conglomerates owned by one person.
Murdoch was supported by a conservative politician to Margaret Thatcher. When Thatcher became the country’s prime minister in the late 1970s, the floodgates in front of Murdoch opened.
He first bought the newspaper Times of London in 1981. He founded the television channel Sky News in 1989.
In the United States, Murdoch is positioning the New York Post tabloid he owns as the Republican candidate Ronald Reagan behind and helped him win the 1980 New York state presidential election.
According to The New York Times, Reagan, who became president, helped Murdoch get American citizenship, which was a prerequisite for acquiring a television channel at the time. The media mogul became a federal citizen in 1985 and soon had bought his first US television channels and the movie studio 20th Century Fox.
They were the first parts of the company that grew into the media giant Fox.
Murdoch grew from one Australian newspaper to a global and influential media empire in 70 years.
Murdoch’s channels and publications have been accused time and time again of purposeful or deliberately distorted reporting, often to advance business interests.
For example, many consider the conservative Fox News TV channel to be a significant influence on the divided political climate in the United States in recent years.
In 2011, the Murdochs’ British tabloid News of the World was caught hacking the phones of public figures or otherwise interesting people. The scandal was perhaps the biggest in the history of the Murdoch empire and led to the closure of the News of the World.
In the second half of the decade, Murdoch made a surprising decision and decided to sell the 21st Century Fox entertainment company to Disney. The price of the trade process, which lasted for years, was finally more than 71 billion dollars, i.e. more than 63 billion euros.
As a result of the deal, Murdoch’s empire shrank significantly, but the company still retained its most politically significant parts, such as news channels and newspapers.
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