2023-09-21 16:16:53
Media mogul Rupert Murdoch is giving up his leadership role in his media conglomerate. The 92-year-old entrepreneur is one of the most powerful figures in the media world. His conglomerate includes America’s broadcaster Fox, the newspaper division News Corporation with the flagship “Wall Street Journal”, the “New York Post” and numerous other holdings.
Murdoch has held the role of chairman at both Fox and News Corporation. His son Lachlan Murdoch will now take this position. However, the aged entrepreneur apparently doesn’t want to let go completely yet: he announced that he is going to be elected “Chair Emeritus”. In his professional life, he dealt with news and ideas every day, he wrote in an email to employees. “That won’t change.” But now it’s time to take on a new role, knowing that the group has talented managers and a passionate, principled leader in Lachlan.
Murdoch is retiring at a critical time for the media industry. Fox had already separated from its Hollywood division in 2019 and sold it to the Disney Group and is primarily relying on live television and sports broadcasts. The company is confronted with the trend that more and more viewers are saying goodbye to traditional television and cable offerings and are instead streaming more and more programs.
Majid Sattar, Washington Published/Updated: , Recommendations: 7 Philip Plickert, London Published/Updated: , Recommendations: 6 Dennis Kremer Published/Updated: , Recommendations: 30
News Corp. with Wall Street Journal, Times of London and other newspapers in its portfolio is looking for the right recipe in the battle for advertising and subscriptions. Rupert Murdoch began his career in Australia 70 years ago. He had inherited a newspaper publisher, which he expanded into one of the largest and most politically influential media companies.
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