Major News Media Shakeup
After decades of service and business, Rupert Murdoch is passing Fox Corporation on to his son. How will this impact news in America?
From National Review. Billionaire media mogul Rupert Murdoch announced Thursday that he is stepping down as the chairman of Fox and News Corp. and appointing his eldest son, Lachlan, as his successor. …
Murdoch, 92, is widely credited as one of the most influential media figures of the 20th century. His career began with the acquisition of several Australian newspaper chains in the 1950’s. He went on to add a number of U.K. tabloids to his growing empire and, eventually, entered the film business with the purchase of Twentieth Century Fox in 1986. He then became a major player in American political media when he launched Fox News in 1996 as a competitor to CNN. …
The elder Murdoch’s departure comes at a transition point for Fox Corp., which sold its entertainment divisions to Disney in 2019 for $71 billion in an effort to concentrate focus on live news and sports. The announcement also comes on the heels of Fox News’ unprecedented legal defeat to Dominion Voting Systems. …
While he’ll be stepping away from day-to-day management, Rupert Murdoch will continue serving as chairman emeritus of Fox and News Corp.
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(Excerpt from National Review. Photo Credit: Spencer Platt/Getty Images)
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