Rupert Murdoch announced on Thursday morning that he would step down as chairman of Fox Corporation and News Corp., the massively influential media companies that have defined the Australian media magnate’s right-wing empire in North America. He will give control of the company to his oldest son, Lachlan, who is seen as aligned with Rupert on political and cultural matters. Murdoch will stay on as chairman emeritus, will still control the family trust that governs Fox, and seemed to give himself wiggle room to keep influencing the network he built in the ’90s with Roger Ailes.
In a memo, Murdoch wrote that “the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled, leader in Lachlan who will become sole Chairman of both companies.” He did not frame his decision as an inevitable bow to his advanced age, noting that “our companies are in robust health, as am I.” And he sprinkled in a few populist political notes, invoking a “battle for free speech” and warning about “elites” who have “open contempt for those who are not part of their rarefied class.”
Murdoch’s move came just a day after a New York cover story by Michael Wolff — an excerpt from his upcoming book — documented the process of Murdoch’s decision to sideline Fox News ratings leader Tucker Carlson, as well as the 92-year-old’s sometimes unsteady efforts to set a direction for the company and keep his family members and the company’s employees from undermining him. This year, the network paid out a staggering sum to settle a historic libel lawsuit, took Carlson off the air, and has contended with the continuing dominance of Donald Trump, whom Murdoch openly disdains.
Fox’s future is hazy, but one thing is clear: There will be a ton of Succession memes on the internet today.
