Rupert Murdoch Retires As Chair of Fox & Names Son As His Successor

Rupert Murdoch has retired as chair of Fox Corp and News Corp after 70 years in the Media industry. As he previously noted, the "chairman emeritus" is getting ready to hand things over to his son, Lachlan Murdoch, in November. Following his retirement, Murdoch assured that he would always remain with the company.

There were rumors about who would be the next chair among Murdoch's four kids. He always avoided the topic and believed the chips would "fall where they will." However, a 2022 book revealed that the 92-year-old declared Lachlan as his successor in 2017. 

Murdoch retired from Fox News after several decades as chair of the company. He announced this via Bill Hemmer, the "America's Newsroom" co-host who revealed his plans via a live broadcast. Hemmer said, per People magazine, "Our boss, Rupert Murdoch, is transitioning from chair of our parent company Fox Corporation."

He further revealed that Murdoch left a note explaining how he felt about resigning as chair. Despite Murdoch's decision, he will always remain a part of the community and "engage daily" with their progress. Hemmer noted, "He says he will still be an active member of the Fox community, reaching out with thoughts and ideas as he does every day."

Amid rumors surrounding his and the company's well-being, Murdoch confirmed that there was no major reason for his retirement. In the letter, he wrote, "Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about our coming years. I certainly am and plan to be here to participate in them."

He then spoke on one of the company's biggest motivations and endorsed his son, Lachlan, to continue the legacy. "The battle for the freedom of speech and ultimately the freedom of thought has never been more intense. My father firmly believed in freedom and Lachlan is absolutely committed to the cause." Murdoch confirmed that the former executive chair would be taking over from him in November.

Murdoch's eldest son, Lachlan, will take over as chair in his father's former position. He recently shared a statement per People magazine, congratulating his father on his retirement and over seven successful decades in the media industry.

He then expressed deep gratitude for his father's unwavering "vision and his pioneering spirit, his steadfast determination and the enduring legacy." Lachlan highlighted the impact he had on many companies and the "countless people" he has positively influenced.

Prior to the news, the public was curious to know which of Murdoch's eldest children, Elisabeth, Prudence, Lachlan, and James, would succeed the media mogul. However, Murdoch himself was known for not talking much about this topic. According to an Irish Times article, Murdoch once said, "Let the chips fall as they will."

However, Lachlan Murdoch has held significant leadership positions within News Corp and 21st Century Fox for a long time. He previously worked as the executive chair and CEO of the Fox Corporation in 2019, which includes major players like Fox News and Fox Business. This marked a significant milestone in his career, as he previously served as a senior executive within the organization.

Maggie Haberman documented a meeting between Murdoch and President Trump in her 2022 book "Confidence Man." According to the book, the duo discussed plans for the future of Murdoch's company, including who would take over from him. This was one of several other writings linking Trump to Fox News.

Haberman recounted that Trump and Murdoch were supposed to talk about potential candidates for the White House chief of staff position. However, Trump's attention was elsewhere, and he spent around 30 minutes strongly expressing his concerns about what he perceived as a leftward shift in Fox News.

Trump reportedly noted, "It's going to become too liberal when James [Murdoch] takes over," referring to Murdoch's son, who the public expected to succeed his father. However, Murdoch cleared things up by saying, "No, it's going to be Lachlan [Murdoch]." This marked one of the first times that the succession plan had become public knowledge.

Before the Lachlan decision, Murdoch remained unbiased in public when asked who would succeed him. However, according to a Vanity Fair article, he previously suggested that Lachlan would be next in line during a meeting with former American president Donald Trump.

The article explains that Murdoch believed in a "Darwinian struggle" and wanted the kids to prove themselves to him. According to a source close to the Family, Murdoch "pitted his kids against each other their entire lives." Per the article, his daughter, Elisabeth, would have made a suitable successor; however, he was uncomfortable with a woman being chair after him.

She reportedly quit the family business and began her own successful television company. Lachlan, on the other hand, shared Murdoch's right-wing beliefs. They also have much in common, making him a perfect fit for the role. A close family source tagged him the "golden child," thus Murdoch's decision to make him his successor.