Media mogul Rupert Murdoch has retired, leaving News Corp and Fox

Media mogul Rupert Murdoch is retiring and stepping down as chairman of media companies News Corp and Fox. His son Lachlan Murdoch takes over from him.

Murdoch, 92, built his media empire over the past 70 years. He started with a small newspaper in Australia. Murdoch will remain involved with News Corp and Fox as a kind of honorary chairman.

Murdoch is scheduled to resign from his duties during the shareholders’ meetings of the two companies in mid-November. In a statement, Lachlan (52 years old) referred to his father’s “remarkable” 70-year career and thanked him for his “vision, pioneering spirit and determination” in building his media empire. Lachlan is also grateful that his father remains honorary chairman of News Corp and Fox to advise.

News Corp owns major newspapers such as The Wall Street Journal, New York Post, Times, Sun, and Sunday Times. The company also owns Dow Jones News Agency, the business magazine Barron’s and the financial website MarketWatch. Fox has television channels for sports, entertainment, and news, among others. The companies are mainly active in the United Kingdom, the United States and Australia.

In a letter to News Corp and Fox employees, Murdoch said it was time to move on to other roles and that the two companies were “in good health, just as I am.” He also says there are reasons to be optimistic about the years ahead. He also states that “the battle for freedom of expression has never been as intense as it is today.”

In the United States, Fox is known as a channel targeting the right-wing conservative segment of the population. The channel is said to have played an important role in former President Donald Trump’s election victory in 2016. Relations between Trump and Fox have now cooled sharply.