Washington, US

Rupert Murdoch announced on Thursday (September 21) that he intends to resign from his role as the chairman of Fox Corporation and Fox News, handing over the reigns of his media empire to eldest son Lachlan. 

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“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch, 92, wrote in a memo to employees, as cited by CNN.

“But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies.”

For seven decades, Murdoch has wielded substantial influence in the Republican Party, rivalled by only a select few, as the leader of Fox and News Corporation, which publishes influential publications like The Wall Street Journal and the tabloid New York Post in the US, besides numerous publications, TV channels and digital properties in the UK, Australia, Asia and elsewhere.

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Murdoch's decision to step down from his leadership roles in these companies is set to send shockwaves throughout the media industry and create ripples in the political landscape, especially with the 2024 presidential race gaining momentum.

Who steps into Murdoch's shoes?

Lachlan Murdoch, who currently serves as the chief executive of Fox Corporation, will assume sole chairmanship of both firms.

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Murdoch described his eldest son as "a passionate, principled leader."

While it remains uncertain whether Fox's direction will undergo any changes under Lachlan's leadership, Rupert hinted that Lachlan will uphold the right-wing editorial stance for which his media companies are renowned.

Also watch | Rupert Murdoch 'might be in love again'

Rupert conveyed to his employees in a memo, "My father firmly believed in freedom, and Lachlan is absolutely committed to the cause. Self-serving bureaucracies aim to stifle those who dare to question their origins and objectives. The elites openly disdain those outside their exclusive circles. Much of the media collaborates with these elites, promoting political narratives rather than pursuing the truth."

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