What’s happening: Rupert Murdoch is stepping down from his position as chairman of Fox and News Corporation, transferring control of the media empire to his oldest son Lachlan Murdoch. Lachlan will officially take the helm at Fox from his 92-year-old father in November.
Why it matters: Fox News could change politically under Lachlan, who is allegedly much more conservative than both his father and brother James Murdoch. James quit the family business in 2020 and made headlines for donating millions to left-wing causes.
How conservative? Lachlan is said to be “close” with Tucker Carlson and has backed his editorial moves, though he ultimately ended Carlson's job with Fox. Like his father, he’s not a supporter of Trump. Notable critics like Steve Bannon say Lachlan isn't as conservative as people want to believe.
- Zoom in: Fox's reach isn't just in the U.S. but extends all the way to the U.K. and Australia. Lachlan has already started appointing well-known Australian right-wing politicians to the board. He feels closest to Australia, hinting that could be more of his focus than the U.S.
But, it could change nothing: Rupert Murdoch's role is changing to chairman emeritus, but it's still his empire. Lachlan isn't as hands-on in the newsroom as his dad. This means Rupert could still be the real power, even with his new, less flashy title. He also says he'll stay involved.
Zoom out: Rupert Murdoch’s transfer of company control to his son is the latest example of the generation that built the modern era handing down their empires to their children. In June of this year, left-wing mega-donor George Soros announced plans to pass control of his $25 billion empire to his son Alex Soros.