Rupert Murdoch, the influential media mogul, has announced his retirement and the appointment of his son Lachlan Murdoch as the new head of his conglomerate. With this announcement, Lachlan will become the sole chairman of both News Corp and Fox News, after co-chairing the company for years. Rupert Murdoch will continue to serve on the boards of directors as chairman emeritus. Lachlan expressed his gratitude to his father for his vision and pioneering spirit. The appointment of Lachlan, the eldest of Murdoch’s six children, ended a soap opera-like succession drama that has been compared to the hit HBO series Succession.
Lachlan Murdoch, 52, has had a long history of involvement in television and news. He began working for the company at the age of 18 and quickly rose through the ranks, eventually becoming the third most powerful executive at News Corp. In 2005, Lachlan left his position at the company following a dispute with then-Fox News chief Roger Ailes. He returned to Australia to work at his own private investment company before rejoining the family business in 2014 as co-chairman of News Corp.
This decision by Rupert Murdoch is the fulfillment of a promise he made in 2019, in which he named Lachlan as his successor. By making clear his intention to pass the empire to Lachlan as the sole executive, Rupert hopes to avoid a sibling dispute after his death. However, there have been reports of tension between Lachlan and his siblings, particularly James, who is said to be biding his time until he and his sisters can wrest control from Lachlan.
Despite his success in the company, Lachlan’s most difficult task may be keeping the family together. Over the years, there have been reports of bitter fighting between the siblings, particularly between Lachlan and James. Lachlan’s leadership style has also been criticized, particularly in relation to Fox News and its coverage.
One of the big unknowns following this announcement is whether the conservative and pro-Trump stance of Fox News will continue under Lachlan’s leadership, especially as the 2024 presidential elections approach. The appointment of Lachlan Murdoch as the head of Rupert Murdoch’s conglomerate marks a new era for the media empire and raises questions about the future direction of influential media outlets such as Fox News, The Wall Street Journal, and the New York Post.