Media mogul Rupert Murdoch has resigned as the chairman of Fox Corp and News Corp, CNBC reported on September 21 as he transitions from an active role in the companies.
Murdoch, who has near-controlling stakes in both the companies, will be appointed chairman emeritus of both the companies.
As per the report, Lachlan Murdoch, one of his sons, will become sole chairman of News Corp and will continue as Fox Corp.’s executive chair and CEO.
“Our companies are in robust health, as am I,” the elder Murdoch said in a note to employees, accessed by CNBC. “We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them. But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.”
The news comes just months after Murdoch, 92, scrapped a plan that would have reunited his media empire by merging Fox and News Corp.
(With agency inputs)
This is a developing story. Please check back for more updates
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
