“The king is dead, long live the king!” or at least that’s how the saying goes. It seems fitting for today’s news that Rupert Murdoch is stepping down as chairman of Fox Corp. and News Corp., but is he really stepping down? Turns out not so much. He is retiring as chairman of Fox Corp., but he’s appointed his son Lachlan Murdoch, who will replace him as chairman of both firms with Rupert Murdoch being appointed chairman emeritus of both companies (whatever that means). My guess is it means daddy will be watching and still pulling the strings, but claim deniability in any new lawsuits going forward. Seems sunny boy might be being set up as a fall guy if Fox’s recent lawsuits are any indicator.
Rupert Murdoch stepping down as chairman of Fox Corp. and News Corp.