Rupert Murdoch, the 92-year-old Chairman of Fox and News Corporation, announced on Thursday that he will be stepping down after nearly 28 years.
"For my entire professional life, I have been engaged daily with news and ideas, and that will not change," Murdoch promised in a note to staff.
The Australian native purchased Twentieth Century Fox in 1986 and then launched Fox News in 1996 as a competitor to CNN. His son Lachlan Murdoch, who is currently the CEO of Fox Corp, will take over both major international media companies. But, as the elder Murdoch made clear in his resignation note, he does not exactly intend to step aside.
"In my new role, I can guarantee you that I will be involved every day in the contest of ideas," he wrote. "I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice."
Murdoch's announcement also comes on the heels of Fox News' unprecedented legal defeat to Dominion Voting Systems, the largest defamation settlement in U.S. history. The voting machine company successfully sued Fox News over its endorsement of Donald Trump's lies about the 2020 election.
Here's how Fox News announced the news about Rupert Murdoch pic.twitter.com/eSSYslHg50
— Brian Stelter (@brianstelter) September 21, 2023
