Rupert Murdoch has stepped down as the chairman of Fox Corp and News Corp, ending a more than seven-decade career during which he created a media empire spanning from Australia to the United States.
The executive transition coincides with the annual meeting of shareholders for Fox and News Corp in mid-November. Fox still faces a lawsuit from voting technology firm Smartmatic, which in 2021 sued Fox for US$2.7 billion over similar claims, as well as shareholder lawsuits accusing Fox Corp officers and directors of breaching their duties by allowing the company to become mired in defamation claims.
James then channelled proceeds from the deal into a private investment firm, Lupa Systems. Lachlan was appointed CEO of the new Fox Corp.
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