Washington, United States

The naming of Lachlan Murdoch, the eldest son of Rupert Murdoch, as chairman of Fox and News Corporation solidifies his position as one of the most powerful media barons in the world. Rupert called Lachlan a "passionate, principled leader" who can take the company further. 

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In a note to the staff, reported by the Wall Street Journal, Rupert said, "For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles." The 92-year-old will now become chairman emeritus of the two corporations, the company said in the release. 

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Lachlan in a statement said, "On behalf of the Fox and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career."

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Here are five things you must know about Rupert's media inheritor:

Early Life

Lachlan Keith Murdoch was born on 08 September 1971. He was born in Wimbledon, England. He is a British-American businessman and mass media heir. Lachlan is the eldest son of mass media mogul Rupert Murdoch and his former wife and Scottish journalist and author Anna Maria dePeyster. 

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Left the company after a feud with ex-boss

After a feud with the then-boss of Fox News, Roger Ailes, Lachlan in 2005 left the company and set up an Australian investment firm which invested money in media and marketing companies. However, during the time because of the phone hacking scandal and his father's divorce in 2014, he returned thinking his father needed his help. 

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Won't work with brother now

Rupert in 2015 named both his sons, Lachlan and his brother James as the co-chairmen of the film studio 21st Century Fox. According to a New York Times feature in 2017, the brothers were trying to transform the culture, making it more transparent and diverse for the employees. However, James quit in 2019 after the company was sold to Disney. In the resignation letter, James said he was leaving "due to disagreements over certain other strategic decisions." 

Complicated relationship with Donald Trump

Lachlan will now have to navigate with former President Donald Trump, with whom he shares an on-off relationship. Trump has appeared several times on Fox News and criticised the channel while praising the rivals. The news firm this year settled a defamation case by voting machine company, Dominion for $787.5 million. It alleged that the news broadcaster helped share Trump's baseless rumours about fraud in the 2020 election. It is yet to settle a similar lawsuit by another firm, Smartmatic. 

Paddy Manning, an Australian journalist who wrote "The Successor," a biography of Lachlan Murdoch, said that it's no secret that he and his father are not big fans of the former president.

Net worth: Among wealthiest 1%

The Australian Financial Review recently placed Lachlan 33rd on their list of the country's richest people, with a total net worth of $2.1 billion (A$3.35 billion).

(With inputs from agencies)

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