Rupert Murdoch, whose creation of Fox News made him a force in American politics, is stepping down
NEW YORK -
Rupert Murdoch, the 92-year-old Australian media magnate whose creation of Fox News made him a force in American politics, is stepping down as leader of both Fox's parent company and his News Corp. media holdings.
- Top business headlines, all in one place
- The information you need to know, sent directly to you: Download the CTV News App
Fox said Thursday that Murdoch would become chairman emeritus of both companies, effective at board meetings in November. His son, Lachlan, will become News Corp. chairman and continue as chief executive officer of Fox Corp.
Lachlan Murdoch said that "we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies."
Besides Fox News, Rupert Murdoch started the Fox broadcast network, the first to successfully challenge the Big Three of ABC, CBS and NBC, with shows like "The Simpsons." He is owner of The Wall Street Journal and the New York Post.
He slimmed down his corporate holdings with the 2019 sale of many entertainment assets to the Walt Disney Co. These included film production, rights to the Marvel comics, National Geographic and the cable network FX.
Fox News Channel has profoundly influenced television and the nation's politics since its start in 1996, making Murdoch a hero to some and pariah to others. The 24-hour network converted the power and energy of political talk radio to television. Within six years, it outrated CNN and MSNBC.
But it has been a rough year for Fox, which was forced to pay $787 million to settle a defamation lawsuit related to its coverage of false claims following the 2020 presidential election. Shortly after, Fox fired its most popular personality, Tucker Carlson.
Stock in Fox Corp., while positive this year, began to decline early in 2022, due in part to lawsuits and investor anxiety over the loss of viewers to smaller media outlets.
Murdoch vowed in a letter to employees that he would remain engaged at Fox.
"In my new role, I can guarantee you that I will be involved every day in the contest of ideas," Murdoch wrote. "Our companies are communities, and I will be an active member of our community. I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest."
There was no immediate word on why Murdoch's announcement came now. Ironically, next week author and Murdoch biographer Michael Wolff is publishing a book, "The End of Fox News," speculating on what will happen to the network when the patriarch is gone.
Murdoch's announcement "seems a bit out of the blue as he has not shown a willingness to throw in the towel," said Paolo Pescatore, a media industry analyst and founder of PP Foresight. "Undoubtedly he will still be involved and not want to remove himself entirely given the media empire he has created. It is always hard to let go, even though we are not getting any younger."
Murdoch and his family, particularly children James, Lachlan, Elisabeth and Prudence, were said to be the model of the HBO show " Succession."
He built his empire from a single newspaper in Adelaide, Australia, inherited from his father and became a multi-billionaire. Forbes estimated the Murdoch family's net worth at roughly $19 billion in 2020.
While Murdoch never ran for political office, politicians in the United States and Britain anxiously sought his approval. He had a complicated relationship with Donald Trump. Wolff reported in 2018 that Murdoch had called Trump an "idiot," adding an expletive for emphasis, but Fox News is built with an audience that largely admires Trump.
Fox briefly seemed to tout the candidacy of Florida Gov. Ron DeSantis in the current election cycle, but that has faded along with DeSantis' prospects.
For decades, Murdoch was one of the most powerful media figures in Britain, a market he entered after buying the tabloid News of the World in 1969. He reinvigorated Britain's stodgy newspaper scene with sex, scandal and celebrity and helped shake up television with satellite broadcaster Sky.
His clout has waned since the revelation more than a decade ago that employees of the News of the World had eavesdropped on phones and used other underhanded methods to get scoops on celebrities, politicians and royals. News Corp. owns the Times, Sunday Times and Sun newspapers, but News of the World closed and Murdoch sold his 40% stake in Sky when he failed to get complete control of the company.
Fox News went through a series of sexual harassment scandals in the 2010s, which led to top executive Roger Ailes and prime-time personality Bill O'Reilly being pushed out. Murdoch dismissed them as isolated instances that were "largely political because we're conservative."
Shares of News Corp. and Fox rose Thursday in early trading.
------
A previous version gave the incorrect publication timeline for the book "The End of Fox News."
--------
AP correspondents Kelvin Chan and Jill Lawless in London contributed to this report.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
YOUR FINANCES
Here's how much more your Christmas dinner will cost this year
Celebrating with your family this December could come with increased expenses as data shows many traditional holiday foods are going up in price.
Canadians increasingly turning to charities to meet essential needs, but cost of living also hitting donations
Every Giving Tuesday, many Canadians generously dig into their wallets to donate to charities, but as the cost of living climbs, research suggests many Canadians are also in need of help.
What is the grocery code of conduct, and will it help to lower the cost of food?
Canada's grocery code of conduct is in the final stages with advocates saying it would help lower food prices while big grocers say it won't.
Poor Inuit housing 'direct result of colonialism': federal housing advocate
A federal housing advocate is accusing every level of government in Canada of failing to uphold the Inuit's right to housing -- and therefore denying their human rights.
Having financial problems? Don't get caught in debt relief scams
With inflation, rising interest rates, and higher costs for gas, groceries and housing, many Canadians are feeling the financial pinch and now personal bankruptcies are on the rise.
Do you tip at a restaurant like Chipotle? Here’s what a survey found
But the majority of Americans say they tip 15 per cent or less for a typical meal at a sit-down restaurant, according to a wide-ranging new poll on tipping attitudes from Pew Research Center. The poll surveyed nearly 12,000 people.
Loblaw raises the affordability alarm as grocery code of conduct nears completion
As the grocery code of conduct nears completion, the Canadian industry's biggest player is raising concerns the guidelines could add fuel to the food inflation fire.
Here's how much it costs to raise children in Canada, according to new statistics
A new report from Statistics Canada estimates how much parents will spend on children over the course of their lifetime.
CTVNews.ca Top Stories
4 in custody after 'brutal' death of Quebec entrepreneur, partner in Dominica
Four people are in police custody after Quebec businessman Daniel Langlois and his partner Dominique Marchand were found dead in Dominica.
Speaker Fergus apologizes, faces calls to resign over 'personal' video played at Ontario Liberal event
House of Commons Speaker Greg Fergus apologized to MPs on Monday about a 'personal' video tribute message played this weekend at the Ontario Liberal Party leadership convention, but two opposition parties say that's not enough and are now calling for him to resign over his 'unacceptable' participation in a partisan event.
Unanimous vote to install menorah and nativity scene at Moncton City Hall
In a unanimous vote Monday night, Moncton City Council passed a motion to immediately install the menorah and nativity scene outside of city hall.
Canada's grocery retail sector one of the most competitive on Earth: Sobeys CEO
The top executive at Sobeys asserted on Monday that Canada has one of the most competitive grocery retail sectors on the planet -- even as Canadians continue to feel the bite of higher prices.
opinion
opinion As Trump burns through cash, powerful Republicans are rallying behind a surging candidate
With less than 50 days until Republican voters begin the process of determining their nominee to take on President Joe Biden, political analyst Eric Ham writes about a storm brewing within the GOP -- as super-donors align behind a surging candidate who could pose a threat to frontrunner Donald Trump.
Escaped kangaroo found safe after 3 days on the loose in Ontario
A kangaroo that escaped the Oshawa Zoo during a one-night stay last week has been recaptured after more than three days on the loose.
George Santos is offering personalized videos for US$200
George Santos already has a new gig. The former congressman, fresh off his historic expulsion last week, has created a Cameo account where the public can pay for a personalized video message.
70-year-old Ugandan woman gives birth to twins after fertility treatment
A 70-year-old woman in Uganda has given birth to twins after receiving fertility treatment, making her one of the world's oldest new mothers.
CBC says it is cutting 600 jobs, some programming as it slashes budget
The Canadian Broadcasting Corp. and Radio-Canada will eliminate about 600 jobs and not fill an additional 200 vacancies. The cuts at CBC come days after the Liberal government suggested it may cap the amount of money CBC and Radio-Canada could get under a $100 million deal Ottawa recently signed with Google.
Canada
-
Unanimous vote to install menorah and nativity scene at Moncton City Hall
In a unanimous vote Monday night, Moncton City Council passed a motion to immediately install the menorah and nativity scene outside of city hall.
-
Driver arrested after nearly hitting pro-Palestinian demonstrator in Victoria
A driver was arrested in Victoria on Sunday after nearly hitting a protester with a car during a pro-Palestinian rally outside the B.C. legislature.
-
4 in custody after 'brutal' death of Quebec entrepreneur, partner in Dominica
Four people are in police custody after Quebec businessman Daniel Langlois and his partner Dominique Marchand were found dead in Dominica.
-
Escaped kangaroo found safe after 3 days on the loose in Ontario
A kangaroo that escaped the Oshawa Zoo during a one-night stay last week has been recaptured after more than three days on the loose.
-
Canada's proposal to cut methane emissions by 75% 'dangerous and unconstitutional': Alta. premier
Canada is aiming to cut methane emissions from the oil and gas sector by at least 75 per cent over the next six years, but the Alberta government said the rules would be 'dangerous and unconstitutional.'
-
CBC says it is cutting 600 jobs, some programming as it slashes budget
The Canadian Broadcasting Corp. and Radio-Canada will eliminate about 600 jobs and not fill an additional 200 vacancies. The cuts at CBC come days after the Liberal government suggested it may cap the amount of money CBC and Radio-Canada could get under a $100 million deal Ottawa recently signed with Google.
World
-
Man suspected of killing 4, including a 1-year-old, at a Dallas home kills self during police chase
A man suspected of killing four people, including a 1-year-old boy, and injuring a 15-year-old girl in a shooting at a Dallas home fatally shot himself during a chase with law enforcement several hours later, authorities said Monday.
-
U.S., allies in talks on naval task force to protect shipping in Red Sea after Houthi attacks
The White House said Monday that the U.S. may establish a naval task force to escort commercial ships in the Red Sea, a day after three vessels were struck by missiles fired by Iranian-back Houthis in Yemen.
-
George Santos is offering personalized videos for US$200
George Santos already has a new gig. The former congressman, fresh off his historic expulsion last week, has created a Cameo account where the public can pay for a personalized video message.
-
Arkansas rules online news personality Cenk Uygur won't qualify for Democratic presidential primary
Arkansas election officials on Monday said online news personality Cenk Uygur, who was born in Turkiye, can't appear on the state's Democratic presidential primary ballot next year.
-
Texas prosecutor drops charges against 17 Austin police over tactics used during 2020 protests
A Texas prosecutor whose office oversaw indictments of more than 20 Austin police officers over tactics used during the 2020 protests that followed George Floyd's killing said Monday he was dropping most of the cases and would ask the Justice Department to investigate instead.
-
Man who posed as agent and offered gifts to Secret Service sentenced to nearly 3 years
A man accused of pretending to be a federal agent and offering gifts and free apartments to Secret Service officers has been sentenced to nearly three years in prison.
Politics
-
Speaker Fergus apologizes, faces calls to resign over 'personal' video played at Ontario Liberal event
House of Commons Speaker Greg Fergus apologized to MPs on Monday about a 'personal' video tribute message played this weekend at the Ontario Liberal Party leadership convention, but two opposition parties say that's not enough and are now calling for him to resign over his 'unacceptable' participation in a partisan event.
-
Conservatives and NDP among parties granted standing in federal foreign interference inquiry
The Government of Canada as well as the Conservative and New Democratic parties are among the nearly two dozen entities granted standing to participate in the national public inquiry into foreign interference in Canadian elections and democratic institutions, Commissioner Marie-Josee Hogue revealed Monday.
-
'Time is of the essence': Canadian government urged to introduce special immigration measures to help those with families in Gaza
The federal NDP is urging the Liberals to immediately create special immigration measures to allow the evacuation of extended family members of Canadians and permanent residents in Gaza.
Health
-
WATCHWATCH Virus season: 'High risk' of transmission, warns Ontario's top doctor
As respiratory season gets underway, Ontario's top doctor is urging the public to get vaccinated and warning the province is entering a time of 'high risk of transmission' at a time where COVID-19 and RSV cases are on the rise.
-
France's parliament considers a ban on single-use e-cigarettes
The French parliament is considering a ban on single-use, disposable electronic cigarettes that are popular with teenagers for their sweet flavors and are under scrutiny as a new source of trash.
-
Health care in Canada could be more like Norway's, with some improvements: study
Canada is trailing behind other Organisation for Economic Co-operation and Development countries when it comes to both the number of physicians relative to the population, and its spending on primary care, according to a new analysis published in the Canadian Medical Association Journal.
Sci-Tech
-
GM's Cruise robotaxi service faces potential fine in alleged cover-up of San Francisco accident
California regulators say a San Francisco robotaxi service owned by General Motors covered up an accident involving one of its driverless cars, raising the specter they may add a fine to the recent suspension of its California license.
-
Here's how many people will be at risk of homelessness by 2030, according to this AI
An artificial intelligence algorithm has estimated that Canada’s homeless population will almost double by 2030. Researchers fear a lack of action will make this prediction come true.
-
'That's the real thing': Edmonton man makes rare meteorite find
In October 2022, Doug Olsen was folding laundry in his southeast Edmonton home when he was startled by the loud bang of a meteorite landing on his roof.
Entertainment
-
Jonathan Majors assault trial starts with competing versions of a backseat confrontation
Jonathan Majors listened silently, head-cocked and eyes down, as a Manhattan prosecutor and his defense attorney offered competing accounts of a violent confrontation in the backseat of a car that led to assault charges against the film star and put his rapid Hollywood ascent on pause.
-
Man featured in hit podcast 'S-Town' shot and killed by police during standoff, authorities say
A man featured in the hit podcast "S-Town" that chronicled events in a rural Alabama community was shot and killed by police during a weekend standoff in the town, authorities said Monday.
-
Spotify axes 17 per cent of workforce in third round of layoffs this year
Spotify says it's axing 17 per cent of its global workforce, the music streaming service's third round of layoffs this year as it moves to slash costs while focusing on becoming profitable.
