Staff Reports
Rupert Murdoch, the Australian-born media mogul, is stepping down as chairman of both Fox Corp. and News Corp., according to CNBC. This move marks the end of Murdoch’s long journey in the media industry, which began in 1952 when he took over The News, a small newspaper in Adelaide. The 92-year-old will be appointed chairman emeritus of each company, while his son Lachlan Murdoch will take on the role of sole chairman of News Corp, as well as continue as CEO and executive chair of Fox Corp. With the Murdoch family’s current net worth estimated at $17.4 billion, they are undoubtedly leaving behind a massive media legacy.
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I have to say that Rupert Murdoch has been a titan in the media industry, and his influence cannot be denied. His son Lachlan is certainly taking on a momentous role, and we hope that he will continue to uphold the principles of free speech and thought that his father emphasized. It’s no secret that the mainstream media often pushes political narratives, and it’s refreshing to see someone like Rupert Murdoch, and hopefully Lachlan as well, challenge the status quo.
Interestingly enough, Murdoch’s decision to step down comes at a time when the future of Fox News is being speculated upon. Author and biographer Michael Wolff is releasing a book titled “The End of Fox News,” which examines what may happen to the network after Murdoch’s departure. It’s a timely coincidence that echoes the popular television series “Succession,” where a media family’s power dynamics are put on display. Whether you love him or love to hate him, Rupert Murdoch has made an indelible mark on the media landscape, and his legacy will undoubtedly continue under his son’s leadership.
