Who is Lachlan Murdoch and what will happen to Fox and News Corp?

who-is-lachlan-murdoch-and-what-will-happen-to-fox-and-news-corp?
Who is Lachlan Murdoch and what will happen to Fox and News Corp?

Lachlan Murdoch, the eldest son of media titan Rupert Murdoch, has been appointed as the sole chairman of News Corp (NWSA.O) and will continue to serve as the chair and chief executive of Fox Corp (FOXA.O), according to the companies. This decision resolves the issue of succession within one of the world’s most powerful media empires.

As the new chairman, Lachlan Murdoch will oversee influential news brands such as the Wall Street Journal, Fox News, and the Sun in Australia, the United States, and the UK. He will also be responsible for managing Fox Sports, Fox Entertainment, and other entities.

Lachlan Murdoch, who is 52 years old, is the third-oldest child of Rupert Murdoch and his second wife, Anna. He grew up immersed in the media business, with his father encouraging him and his siblings to read newspapers every morning. Media and politics were topics that captured their father’s attention during evening discussions.

From a young age, Lachlan Murdoch had a rivalry with his younger brother, James. This competitiveness extended even to family games of Monopoly. He attended prestigious schools such as Dalton and Trinity, where he formed the Trinity Conservative Society to promote diverse viewpoints.

After graduating from Princeton in 1994, Lachlan Murdoch joined the family business and quickly rose through the ranks. He became chairman of News Limited in Australia before assuming responsibility for print operations in the US. Many saw him as the natural successor to his father.

However, Lachlan Murdoch unexpectedly resigned in 2005, raising questions about the future leadership of the media empire. He founded Illyria Pty, a private investment company, and later returned to the family business in 2015 as co-chairman of 21st Century Fox alongside his brother, James.

Following the sale of Fox’s entertainment assets to Walt Disney in 2019, Lachlan Murdoch became the executive chair and CEO of the newly constituted Fox Corp. His brother, James, left the company as part of the transaction.

As the chief executive of Fox Corp, Lachlan Murdoch has navigated the industry’s significant changes, including the shift towards streaming services. Despite these challenges, Fox News has maintained its dominance in ratings, particularly among politically conservative-leaning American viewers.

Lachlan Murdoch’s political views are not publicly known, although some sources suggest he leans more to the right than his father. However, a Fox spokesperson dismissed these claims as speculation and stated that it would be unfair to categorize him as a conservative.

Fox’s loyalty to its conservative viewers became a contentious issue during Dominion Voting Systems’ lawsuit against the network. The lawsuit alleged that Fox perpetuated falsehoods about voting machines to appease supporters of former President Donald Trump. Fox settled the lawsuit for $787.5 million in April 2023.

Lachlan Murdoch has reaffirmed Fox’s programming strategy and emphasized that the network acts as a news organization reporting on newsworthy events.

While Rupert Murdoch built his legacy across television, movies, and newspapers, Lachlan’s legacy is still evolving. He has shown enthusiasm for Tubi, an ad-supported streaming service acquired by Fox for $440 million in 2020 and now valued at $3 billion.

In conclusion, Lachlan Murdoch’s appointment as the sole chairman of News Corp and his continued leadership at Fox Corp mark a significant development in the succession plan for the Murdoch media empire. He will oversee influential news brands and navigate the evolving media landscape, including the rise of streaming services.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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