First He Runs It Into The Ground, Then He Bails

Rupert Murdoch to Retire From Fox and News Corporation Boards

From the Dominion Voting Systems defamation lawsuit settlement to Tucker Carlson's departure, 2023 has been a tumultuous year for Fox News.

Rupert Murdoch is retiring from the Fox and News Corporation boards, the company is set to announce Thursday morning, making his son Lachlan the sole executive in charge of the global media empire he built from a small local newspaper concern in Australia starting 70 years ago.

The elder Mr. Murdoch will become chairman emeritus of the two companies,the company said in a release.

Mr. Murdoch, 92, had shown no intention to step down or even slow down — even after he named Lachlan as the heir to his business empire in 2019, when he sold his vast entertainment holdings to the Walt Disney Company.

“We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted,” Lachlan Murdoch, 52, said in a release the company put out Thursday morning.

Even now, in his emeritus status, he will continue to offer counsel, Lachlan Murdoch said in a statement.

He can counsel them an the multi-billion lawsuits He Created: