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Media tycoon Rupert Murdoch has resigned as chairman of Fox Corp and News Corp. With this his career of more than 70 years has now come to an end. During this time, he had built a media empire spanning from Australia to America.
The news comes months after Murdoch, 92, canceled plans to merge Fox and News Corp. Rupert Murdoch, who has near-controlling stakes in both companies, will be appointed honorary chairman of both companies. He got married for the fifth time in March this year.
Son got responsibility
He will be replaced by his son Lachlan Murdoch, the companies said on Thursday (21 September). Lachlan will take over as chairman of News Corp. and will remain chairman and CEO of Fox Corp.
Lachlan Murdoch said, ‘I hope that my father, Rupert Murdoch, will continue to advise both companies as chairman emeritus.’
Who is Rupert Murdoch?
Murdoch was born in Australia in 1931, but is currently an American citizen. After his father’s death in 1952, he became the MD of Australia News Limited at the age of 22. After this, he expanded the media business rapidly in the 50s and 60s. Murdoch is the owner of big newspapers and channels in America, Australia and Britain.
Madork is the owner of many newspapers in Britain including the famous The Times, Sunday Times, The Sun. In the US, he owns the Wall Street Journal, New York Post, Dow Jones Local Media Group, 7 News Information Services, Fox TV Group and Sky Italia.
Murdoch’s Twenty-First Century Fox is a renowned company in the film and television industry. He has stake in the famous sports channel Star Sports, famous TV channel National Geographic and British Sky broadcaster.
By 2000, NewsCorp included 800 companies and had business in 50 countries. Forbes ranked Murdoch at number 33 in its Richest Americans 2013 list.
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