Rupert Murdoch Passes the Reins to His Son

( – The Australian business titan who worked with Roger Ailes to make Fox News the top rated news provider in the United States is stepping down. Rupert Murdoch, 92, is handing the reins of power to his eldest child, 52-year-old Lachlan.

The mogul’s son took over officially as News Corp.’s Executive Chairman at the close of business on November 15. His father remained at the helm of Fox Corporation until the company’s annual shareholder call two days later, during which the aging Murdoch formally transferred power to his son.

Lachlan is the first born of six brothers and sisters and has had a hand in his father’s business interests for decades already. According to reports, his nonagenarian father will continue to maintain an active role at both companies, albeit as their chairman emeritus.

During his farewell address at News Corp., Rupert Murdoch said his successor-son was “a principled leader” that believes in the societal responsibility that comes with being a journalism magnate. His speech referenced the news industry’s changing dynamics that have been brought about by the advent of artificial intelligence and said the novel technology poses both “opportunities and challenges.”

Whether for reasons that were exclusively related to business or because of ideological motivations, the now-former chairman provided American viewers with a counter-balance to what many believe is a liberal media industrial complex of sorts. He offered an apparent parting shot to leftist outlets and called them “the intolerant elite.”

The 92-year-old further said the left continues to regard alternative “opinions as anathema.” In his own follow-up remarks, Lachlan said the human race has what he called “a high destiny” and that he is bound by a certain responsibility in helping to bring that fate about.

Rupert Murdoch’s history in the new business dates back to the 1950s. After taking over Australia’s News Limited, he bought a chorus of national publications. By the late 1960s, his ventures stretched internationally.

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