Rupert Murdoch leaves Fox presidency: in whose hands will the ’empire’ remain?

Rupert Murdoch announced this Thursday that he is retiring as president of the Fox media conglomerate. Thus, the magnate leaves the reins of the business to his son Lachlan.

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According to the words Murdoch wrote to his employees when announcing the news,
“It’s the right time to take on different roles, knowing that we have truly talented teams.”

The 92-year-old Australian-born American will retain a position as president emeritus, according to The New York Times.

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“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch wrote to his employees.

In this way, Lachlan Murdoch will be the sole president of Fox Corporation and Fox News. His father described him as “a passionate and principled leader.”

For his part, Lachlan showered his dad with praise and said he is grateful for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves behind the companies he founded and the countless people he has influenced.

“We are grateful that he serves as chairman emeritus and know that he will continue to provide valuable advice to both companies,” said Lachlan, the now head of the media empire.

Rupert Murdoch entered the newspaper business in the 1950s. He gradually became a major Hollywood executive and acquired Twentieth Century Fox. In the 1980s he bought several American television stations and created Fox Broadcasting.

Around the 90s, Fox News emerged as CNN’s main competition. To the point that it became the number one news channel in the United States.

Rupert Murdoch has seven children: Lachlan MurdochJames Murdoch, Elisabeth Murdoch, Grace Helen Murdoch, Chloe Murdoch and Prudence Murdoch.

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