Rupert Murdoch—known for his media empire that includes cable channel Fox News, The Times of London, and The Wall Street Journal—is stepping down from his roles as Chair of Fox Corporation and Executive Chairman of News Corp.
In a memo to Wall Street Journal staff Murdoch 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.”
Murdoch will take on the role of chairman emeritus at the companies’ next shareholder meeting in mid-November, and his son, Lachlan Murdoch, will take over as the sole chairman of both Fox Corporation and News Corp.
As an Australian-born business magnate who commands a vast influence on the Republican Party in the US, Murdoch first became involved in the newspaper industry when he succeeded his father as editor of the Adelaide News at the age of 21. By the 1960s, he had built Australia’s largest newspaper group.
Murdoch then expanded into the United Kingdom (UK), buying the News of the World and launching the Sun—a tabloid newspaper. He also acquired The Times and The Sunday Times of London, creating a newspaper empire that gave him broad reach and political influence in the UK.
After purchasing the San Antonio Express and the San Antonio News, Murdoch extended his media sphere into the US in 1973. Later, in 1976, he acquired the New York Post, an influential New York City tabloid. In 1985, Murdoch became a major Hollywood executive when he purchased Twentieth Century Fox for $600 million. A year later, he bought several US television stations, eventually establishing Fox Broadcasting.
However, several of Murdoch’s companies face criticism. Many accuse The Fox News channel—which appeals to a conservative audience—of diminishing the effects of climate change and spreading conspiracies regarding the 2020 election and COVID-19. In addition, the news channel recently reached a $787.5 million settlement in Dominion Voting Systems’ defamation lawsuit over false claims that the company’s machines rigged the 2020 election.
Numerous scandals have also plagued Murdoch’s career. In 2011, he faced criticism when journalists at his newspaper, the News of the World, hacked into the phones of countless celebrities and of the murdered teenager Milly Dowler. As a result, Murdoch shut down the newspaper.
NPR media correspondent David Folkenflik said, “He used the outlets in the U.K., Australia and the U.S. to achieve certain types of policy outcomes and particularly certain types of political results, earning favors from politicians whose able trade in for political advantage.”
Murdoch’s decision to step down as chairman of Fox Corporation and News Corp. marks the end of a media era. He resigned during a pivotal time when Fox News and its subsidiaries are preparing for the 2024 election.
Article Written by Sushma Katta of Richard Montgomery High School
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