Over decades, Rupert Murdoch created a multibillion-dollar media empire that, in turn, changed journalism for better and for worse.
Corp and News Corp are not typical organizations. Over decades, he created a multibillion-dollar media empire that, in turn, changed journalism for better and for worse.Typically, the longer the tenure of the executive, the trickier and more challenging the transition to a new leader will be. Murdoch, who inherited his first newspaper when he was 21, is a VERY long-term executive. That would be a very challenging situation for any new leader.
A man uses tape to fix the glasses attached to a paper-mache head of Rupert Murdoch in Parliament Square on June 27, 2021 in London, England. Climate Change action group Extinction Rebellion protested at the perceived control of the UK Media by just four billionaires.Given his legacy at the company and on media overall, it will be difficult or impossible to disentangle Murdoch's influence from the organization.
The new leader is Lachlan Murdoch, Rupert Murdoch's eldest son, which signals that not much is likely to change at Fox Corp and News Corp. There will still be a Murdoch in charge. Lachlan learned at the feet of his father, and that will probably mean business as usual—just with a different Murdoch at the lead. Moreover, the elder Murdoch is not going too far. Rupert will remain involved as the chairman emeritus.
Lachlan Murdoch said that"we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel." But should he be grateful? While it seems reasonable to assume that having the former leader remain in the organization with a different role could provide stability and support during the transition, Rupert Murdoch remaining as the chairman emeritus may not have the benefit that the organization hopes that it will.
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