In a recent memo to staff, Rupert Murdoch announced he will be stepping down from his role as chairman of Fox News Corporation and News Corp. “For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” the memo read, per CNN. “But the time is right for me to take on different roles, knowing that we have truly talented teams.” In the memo, Rupert also announced that his oldest son, Lachlan Murdoch, whom he described as “a passionate, principled leader,” would be taking over as chairman of the two media companies. “My father firmly believed in freedom, and Lachlan is absolutely committed to the cause,” Rupert said of Lachlan in the memo.
Read Related Also: As predicted: San Francisco real estate tax collections nosedive
The new appointment comes only a few months after a Vanity Fair article hinted at Rupert’s preference for having Lachlan as his successor. “Lachlan was the golden child,” a source close to the family told the outlet. Regardless, the 52-year-old reportedly had to prove himself worthy in different capacities through the years. As reported by CNN, in 2015, Lachlan, alongside his brother James, was named co-chairman of 21st Century Fox, the entertainment division of Rupert’s business. However, in 2019, following James’ exit from the company and Disney’s acquisition of 21st Century Fox, Lachlan was named CEO of Fox Corporation — a role he held until his recent new appointment as chairman.
