Rupert Murdoch, the nonagenarian Australian-American media mogul who constructed a global media and entertainment conglomerate, has stepped down from his position as co-chairman of News Corp. Murdoch, a figure lauded for his shrewd business strategies yet controversial for his influence on conservative media, remains a significant shareholder within the company.
News Corp, once a sprawling media behemoth, underwent a major restructuring in 2013. The company divested its lucrative film and television holdings, including the highly-watched Fox News Channel, into a separate entity known as 21st Century Fox. This entity was subsequently acquired by Disney in a major deal completed in 2019.
Under Murdoch’s leadership, News Corp amassed a substantial portfolio of newspapers and publishing houses across the globe. This collection encompassed esteemed publications like The Wall Street Journal and The Times of London, alongside more tabloid-oriented titles such as The New York Post and Britain’s The Sun. Murdoch’s control of these outlets has frequently been subject to criticism for allegedly promoting a specific political viewpoint.
While relinquishing the co-chairman role, Murdoch is anticipated to retain considerable influence at News Corp. His son, Lachlan Murdoch, now assumes the position of sole chairman. Rupert Murdoch’s legacy within the media landscape is intricate and subject to debate. He is admired by some for his business acumen and ability to disrupt the industry, while others express concern over his impact on journalism and his perceived role in exacerbating political divisions.