All articles tagged with #news corporation
Media mogul Rupert Murdoch, 93, has married retired Russian biologist Elena Zhukova, 67, at his Californian vineyard. This marks Murdoch's fifth marriage, following his recent split from Ann Lesley Smith. Murdoch, who stepped down as chairman of Fox and News Corp last year, remains a significant figure in the media industry, with his son Lachlan now leading both companies.
Lachlan Murdoch, the eldest son of media mogul Rupert Murdoch, has been named the new chairman of Fox Corporation and News Corporation, taking over his father's media empire. Lachlan's ascension was expected, as he has been co-chairing both companies and serving as CEO of Fox News. Rupert Murdoch will continue to serve on the boards as chairman emeritus. The Murdoch family's wealth and their behind-the-scenes feuding have made them a subject of intrigue. Lachlan's brother James broke with the company in 2020, while his sister Elisabeth often felt overshadowed. Lachlan has overseen Fox News during a period of misinformation, and Rupert signaled that the network's right-wing editorial stance will continue under Lachlan's leadership.
Rupert Murdoch, the media mogul who built a global media empire, is retiring from the Fox and News Corporation boards, leaving his son Lachlan as the sole executive in charge. At 92 years old, Murdoch had previously named Lachlan as his heir in 2019. In his new role as chairman emeritus, Murdoch will continue to offer counsel to the companies he founded.
News Corporation has reported a 75% decline in profits, but remains optimistic about the future due to the potential of AI. The company's CEO, Robert Thomson, believes that generative AI can create new revenue streams and reduce costs. Digital products accounted for over 50% of News Corp's annual revenues for the first time. The decline in profits was attributed to higher newsprint and sports programming costs, lower book sales, and negative foreign currency fluctuations. Despite challenges, Thomson expressed confidence in the company's revenue streams and expects improved performance in the coming quarters.