"For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles," Murdoch, 92, said in a six-paragraph message to employees Thursday.
"In my new role, I can guarantee you that I will be involved every day in the contest of ideas," he wrote.
Fox Corp. said in its news release that Murdoch will formally resign at a shareholder meeting in November.
“I congratulate my father on his remarkable 70-year career,” Lachlan Murdoch said in a statement.
“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,” he added.
This comes as Fox News suffers a ratings decline following the split with Tucker Carlson who's now getting way more views on his content over at Twitter/X. Sure, Murdoch built a little Australian newspaper job into a huge media empire, but it seems like that media empire is falling apart ever since Tucker Carlson left. Fox News has gone through many schedule and host changes since Tucker Carlson left Fox News.
It wasn't long after Fox News and Tucker Carlson split up that Tucker Carlson announced new videos that would be played on X. Tucker said, "we're back" and he was talking about his new content to be uploaded only to the X platform owned by Elon Musk. This allowed Tucker Carlson full journalistic freedom and a platform where he controls his own destiny without rules and regulations coming from Fox News.
Fox News also lost Dan Bongino because they couldn't come to a contract agreement. With Dan Bongino out at Fox News, that was just another big personality gone, one that fans tuned in to watch religiously as he provided his own hard-hitting attitude with political commentary.
Fox News has a lot to work on with their schedule in hopes to bring ratings back to what they once were, but who can take the place of Tucker Carlson and guys like Dan Bongino?
Photo: Hudson Institute, CC BY 2.0 <https://creativecommons.org/licenses/by/2.0>, via Wikimedia Commons