Rupert Murdoch is resigning as chairman of the board of both Fox Corp. and News Corp., according to statements released by the companies on Thursday. The official transition will take place in November.
At the age of 92, Murdoch will assume the role of chairman emeritus for each company. His son, Lachlan Murdoch, will become the sole chairman of News Corp. and will continue to serve as the executive chair and CEO of Fox Corp.
In a note to employees, the elder Murdoch stated, “Our companies are thriving, and so am I. I have every reason to be optimistic about the future years – and I certainly plan to be here to witness and participate in them. However, the battle for freedom of speech and, ultimately, freedom of thought, has never been more intense.”
Murdoch’s decision to step down from the boards comes after a turbulent year for Fox’s TV network, particularly following the company’s agreement to pay a $787.5 million settlement in the Dominion Voting Systems’ defamation lawsuit. The lawsuit involved false claims that the company’s machines influenced the outcome of the 2020 election between President Joe Biden and…
2023-09-21 11:59:46
Post from www.cnbc.com
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