Rupert Murdoch has announced his retirement from Fox News and the rest of his media empire at 92. His son Lachlan will be taking over his entire portfolio of companies.
Murdoch inherited his first newspaper in 1952 from his father in Adelaide, Australia and eventually built a gargantuan media empire that spanned across the world.
Lachlan will now become News Corp chairman and continue in his present role as chief executive officer of Fox Corp. He will also oversee tabloids like the New York Post in addition to Fox News and Fox Entertainment.
Murdoch is one of the world’s wealthiest media executives with a net worth of $8.3 billion. His role as head of Fox News is said to have helped many right-wing politicians.
The world of Murdoch
David Folkenflik who wrote the book Murdoch’s World: The Last of the Old Media Empires, in an interview with CBS News said that Murdoch was known for using outlets in the UK, Australia and the US to achieve certain political outcomes and results, earning favours from politicians for political advantage.
“Think of the invasion of Iraq in 2003, which he promoted through Fox News, through New York Post and the Weekly Standard, which gave ballast to the [then-President] Bush,” said Folkenflik
In addition he also went on some crazy directions including his reports on Brexit and his coverage of former President Donald Trump where he promoted falsehoods about the 2020 presidential election.
He basically gave the green light to Fox News to promote election conspiracies “in order to try and hold on to Trump’s core voters who were many of Fox News’ core viewers,” said Folkenflik.
Stepping down
Murdoch told CBS News that he was stepping down even though he was in good health because he felt it was time to take on different roles.
Lachlan Murdoch said that his father would continue to provide valuable counsel to the companies.
“We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and the countless people he has impacted,” said Murdoch.
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