Rupert Murdoch, the 92-year-old media mogul who founded Fox News, is stepping down from his leadership roles at both Fox’s parent company and News Corp. Fox announced on Thursday that Murdoch will become chairman emeritus of both companies, with his son, Lachlan, taking over as chairman of News Corp. and remaining CEO of Fox Corp.
Lachlan Murdoch expressed gratitude for his father’s continued counsel and involvement in both companies.
Rupert Murdoch, known for his ownership of the Wall Street Journal and the New York Post, has been a significant figure in the conservative world, with Fox News Channel shaping television and national politics since its inception in 1996.
Murdoch reassured employees that he would remain engaged at Fox, pledging to actively participate in the exchange of ideas within the company.
The reason for his announcement at this time remains unclear, though it coincides with the release of Michael Wolff’s book, “The End of Fox News,” which speculates about the network’s future without its patriarch.