Rupert Murdochwill be stepping down shortly as chairman of the board ofFoxand News Corp., the companies said Thursday.
Our opportunities far exceed our commercial challenges.
Selfserving bureaucracies are seeking to silence those who would question their provenance and purpose.
Rupert MurdochFox Corp.
Elites have open contempt for those who are not members of their rarefied class.
Our companies are communities, and I will be an active member of our community.
I look forward to seeing you wherever you work and whatever your responsibility.
And I urge you to make the most of this great opportunity to improve the world we live in.
Murdochs departure as chairman comes at a turbulent legal time forFox Corp.
He returned in 2014 as non-executive co-chair of 21st Century Fox and News Corp.
He became CEO of Fox Corp. in 2019.
His future is not necessarily fixed, however.
Lachlans younger brother James held a number of top roles at News Corp., Sky and BSkBy.
James was CEO of 21st Century Fox but left after most of its entertainment assets were acquired by Disney.
He launched investment firm Lupa Systems whose wide-ranging holdings include the Tribeca Film Festival.
Ruperts daughter Elisabeth also started out at BSkyB but left the fold, becoming a highly successful television executive.
She founded Shine in 2001 (and later sold it to 21stCentury Fox).
She co-founded and is executive chair of UK-based production company Sister.
Fox Corp. holds Fox News, Fox Broadcasting, Tubi and other assets.
Murdoch saw his empire nearly go bankrupt in the early 1990s.
Dominic Patten contributed to this report.
