Fox News Surprise: Rupert Murdoch Exits Fox Corp.; Son Lachlan Murdoch Takes Over

Australian billionaire Rupert Murdoch, 94, announced on Thursday that he is stepping down as leader of Fox Corp., which owns Fox News. His son, Lachlan Murdoch, will now take over his media empire.

The move shocked many, not just in conservative media, as Murdoch has become an enduring force in American politics despite not being originally an American himself, and this is all thanks to Fox News. His son, Lachlan Murdoch, will inherit not just Fox Corp. but also News Corp Media Holdings.

The Associated Press reported that the elder Murdoch will now become chairman emeritus of both companies, while Lachlan will become the chairman of News Corp. He will also continue as the CEO of the Fox News parent company, Fox Corp. This will be effective in November.

"We are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel," Lachlan Murdoch said in a statement.

Rupert Murdoch owns a vast media empire that does not just include Fox News but also newspapers like The Wall Street Journal and the New York Post. He also owns the Times, Sunday Times, and The Sun newspapers.

Changes are unlikely in Fox News under Lachlan Murdoch as he has already been running things at the conservative network for a couple of years. He shares his father's conservative political views, and this means that he might continue on the course that Fox is currently on.

Who Is Rupert Murdoch's Successor Lachlan Murdoch?

Lachlan Murdoch is Rupert Murdoch's eldest son, and he is also the man poised to be the conservative media mogul's successor. His mother is Rupert's second wife, Scottish journalist Anna Maria dePeyster, and he was born in London. Because his father is a naturalized American citizen, but he was born in the UK, he is a British-American citizen.

Much like his father, Rupert, Lachlan is also seen to have a complicated relationship with Donald Trump. According to the BBC, he has made it clear that it is "no secret" that he and his father are not big fans of the former president.

Once he takes over for his father, that relationship continues to become even more complicated as Fox tends to back whoever the Republican frontrunner is, and he has already attacked Trump on several occasions.

Rupert Murdoch's Most Recent Controversies

Rupert Murdoch is one of the most influential media figures in the world, as his media empire is vast and spans several countries. However, he also has several controversies.

While under oath, the Australian-American billionaire infamously admitted that the most recent one involved the $1.6 billion defamation lawsuit filed by Dominion Voting Systems for spreading false information about the election. The elderly Murdoch was questioned during a deposition in which he admitted that several Fox News hosts, including Lou Dobbs, Maria Bartiromo, Jeanine Pirro, and Sean Hannity, endorsed Donald Trump's false election claims.

"Yes. They endorsed," he admitted under oath, according to CBS News.

READ NEXT: Fox News vs. Dominion: Skeptical Judge Grills Fox News Lawyer as Lawsuit Finally Heads to Court

This article is owned by Latin Post.

Written by: Rick Martin

WATCH: Rupert Murdoch stepping down as chairman of Fox, News Corp. - ABC News