In a significant transition of power, Rupert Murdoch steps down, entrusting his media empire’s leadership to his eldest son, Lachlan Murdoch. The change follows reports of familial tension regarding succession.
by Emma Sullivan
After years at the forefront of a global media juggernaut, Rupert Murdoch is set to step back, entrusting the reins to his eldest son, Lachlan Murdoch, as reported by The New York Times. Rupert’s decision to relinquish control comes ahead of his resignation as chairman of Fox and News Corp slated for this November, as noted by Fox News.
In a heartfelt letter addressing his colleagues, the 92-year-old media magnate expressed his intent to transition into the role of Chairman Emeritus for both Fox and News Corp. “Throughout my career, I’ve been deeply engrossed with news and ideas daily, and this isn’t going to cease,” Rupert emphasized. He further voiced his confidence in Lachlan’s leadership, assuring, “The right moment has come for me to embrace different responsibilities, especially when we have Lachlan, a passionate and principled leader, ready to take charge.”
In his reflection, Rupert also underscored the robust health of the companies and remained sanguine about their future prospects.
Taking on the mantle, a poised 52-year-old Lachlan expressed gratitude towards his father’s monumental seven-decade-long career. Through an official statement from the company, Lachlan conveyed, “On behalf of everyone associated with Fox and News Corp, I extend my deepest admiration for my father’s vision, pioneering spirit, unwavering tenacity, and the indelible legacy he’s built. His influence is unparalleled, impacting countless individuals and shaping the media landscape.”
Yet, beneath this smooth transition lies tales of familial discord over who would inherit the colossal media empire. As The Guardian reports, this internal strife saw James Murdoch, Rupert’s youngest son and once a major player in the family business, distance himself due to prolonged internal conflicts. Lachlan’s ascendancy has thus culminated as a result of these longstanding battles.
Meanwhile, Elizabeth Murdoch, Rupert’s daughter and current executive chairman of the global entertainment company, Sister, has deliberately stayed away from the fray, distancing herself from the contentious inheritance debates from their inception.
(Associated Medias | FAD) – All right reserved