Rupert Murdoch ends his reign… kind of

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The Future. Influential and controversial news and media mogul Rupert Murdoch is abdicating the thrones at News Corp. and Fox Corp. His son, Lachlan, who has very similar views as his father, will now wear the crown. But it could be short-lived. When Rupert eventually passes away, his majority voting shares will be equally divided among his four oldest children, who could (and most likely will) push out Lachlan. That power vacuum could start a new ideological chapter for the organizations.

News dynasty
After decades of running News Corp. and Fox Corp. (in its many iterations), Rupert Murdoch is stepping down.

Lachlan, the eldest boy of the Murdoch clan who’s been an on-and-off executive at the companies since 1997, will take charge of an empire mostly comprised of live television news, sports, business data and services, and the Tubi streaming service.

The question currently swirling around media circles is: “Why is Rupert stepping down now?” According to author Michael Wolff, whose new book, The Fall: The End of Fox News and the Murdoch Dynasty, comes out next week, one reason is to shield the 92-year-old from testifying in the upcoming Smartmatic case — a potentially very public display of his current state.

If he were still running News Corp. and Fox, that exposure could likely lead to a negative perception of his ability to run two giant, publicly-traded companies. Rupert probably doesn’t want to suffer a late-in-life Sumner Redstone news cycle.

David Vendrell

Born and raised a stone’s-throw away from the Everglades, David left the Florida swamp for the California desert. Over-caffeinated, he stares at his computer too long either writing the TFP newsletter or screenplays. He is repped by Anonymous Content.


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