2023-09-21 15:43:01
The tycoon Rupert Murdoch announced this Thursday that he is retiring as president of the media conglomerate Fox and News Corporation, leaving the reins of the business to his son Lachlan.
The Australian naturalized American tycoon, from 92 yearswill leave his position next November, when both firms hold their general meeting of shareholders, indicates a press release from both companies.
After these general shareholders meetings, Lachlan Murdoch52, will become sole chairman of News Corp and continue as executive chairman and chief executive officer of Fox Corporation.
“On behalf of the boards of directors of FOX y News Corpthe leadership teams and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career,” said Lachlan Murdoch.
He also expressed his gratitude for “his vision, his pioneering spirit, his steadfast determination and the lasting legacy that he leaves behind the companies he founded and the countless people he has impacted.”
Lachlan Murdoch noted that his father will serve as “president emeritus, and we know that will continue to provide valuable advice to both companies”.
After the announcement, the main pages of the chain Fox News and from the middle The Wall Street Journal, both part of News Corp, opened with the news, and cited the letter sent by Murdoch to his employees.
“Throughout my entire professional life, I have been involved every day with ideas and newsand that will not change,” the magnate said in his message.
Murdoch also said that “the health of both companies is as robust as mine”while noting that he is “optimistic about the coming years” and that he plans to “participate in it.”
At the time that the magnate’s decision was known, Fox shares fell 1.51% up to $30.68 per title and those of News Corp rose 0.66% up to $19.80.
Murdoch will leave his post after a series of controversiesone of the most famous being the recent multimillion-dollar agreement to resolve a defamation lawsuit against Fox News for accusing the company Dominion Voting Systems, which sells voting machines, of electoral manipulation after the defeat of US President Donald Trump (2017-2021). ) in the 2020 presidential elections.
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