![]() With his second wife, Rupert welcomed three children: Elisabeth, Lachlan and James. Over the next seven decades, Murdoch pushed aggressively into British and American markets, buying up newspapers, launching the Fox network, acquiring the 20th Century Fox film studio and upending the cable news scene with the debut of Fox News in 1996. Rupert Murdoch grew his business from relatively modest roots, inheriting an Australian newspaper business from his father in 1952. (HBO and CNN are owned by the same parent company, Warner Bros. Writers for the HBO series “Succession” drew heavily on the Murdochs’ lives in their creation of the fictional Roy family. The Murdochs’ seemingly boundless wealth - Forbes estimates the family is worth nearly $18 billion - and their at times messy behind-the-scenes feuding has long made them a source of intrigue in elite media and business circles. “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 said in a statement Thursday. Ninety-two-year-old Rupert Murdoch, one of the most influential media tycoons of the modern era, will continue to serve on the boards as chairman emeritus. In lock step with his dad, Lachlan has co-chaired both Fox and News corporations, and was named CEO of Fox News in 2019. The decision, announced Thursday, makes 52-year-old Lachlan the sole chairman of Fox News’ parent company, Fox Corporation, and News Corporation, owner of the Wall Street Journal, the New York Post and other newspapers.Īlthough his closest siblings, Elisabeth and James, had previously been seen as contenders for the throne, Lachlan’s ascension became all but guaranteed over the past few years. Lachlan Murdoch, the eldest son of Rupert Murdoch, has been anointed to take over his father’s vast media empire, capping years of rampant media speculation and thinly veiled fraternal feuding.
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