Murdoch has stepped down as the chairman of Fox and the Chairman of the News Group to end his career for more than 70 years; during this period, he created a media empire that spans Australia and the United States.The two companies said on Thursday that his eldest son Lachlan Murdoch will become the only chairman of the news group and continue to serve as the chairman and CEO of Fox.This intersection consolidates the status of Laklan as the head of the media empire, and calmed down the inheritance of the Murdoch family. At present, the media industry is facing various challenges. From the decline in traditional TV ratings, to the legal war in the era of artificial intelligence in the era of artificial intelligence, it is different.Murdoch wrote in a memorandum of employees on Thursday: "Our company is in a healthy state, just like me." Earlier this year, Murdoch, 92, canceled the merger of Fox and News Group because several major shareholders rejected the proposal because it would not be able to achieve the entire value of the company. Murdoch has almost controlling shares in both companies, and he will be appointed as honorary chairman of the two. Fox News is still the largest cable TV news network in the United States. It has a great influence in American politics, especially among Republicans, they attach great importance to Fox's conservative audience. The media analyst of the consulting company Madison Wall, Brian Wieser, said: "Many of his companies are still producing many important news to help the world understand information.On the other side of the incident, Fox News enlarged the toxicity of the US political environment, and other media also affected other fields. " After the news of Murdoch's steps down, Fox's stock price closed up 3.2%on Thursday, and news group's stock price rose 1.3%. ** Heirs ** Murdoch has six children, and he has always hoped that his children can eventually take over the empire.His son, James, served as CEO of the 21st Century Fox. Later, the news group decided to sell the company with TV assets to Walt Disney for $ 71.3 billion. This transaction ended in 2019. James subsequently injected the income of the transaction into a private investment company Lupa Systems.Laklan was appointed CEO of New Fox.If Murdoch died, his other children may challenge Lakland's power.Murdoch controls the news group and Fox through a family trust fund located in Nevada Reno. The trust fund holds about 40%of the shares with voting rights.He also holds a small number of shares of the two companies outside the trust fund. Murdoch's four adult children hold the rights and interests of the trust fund.However, Chloe and Grace, the younger daughter born with the third wife Deng Wendi, did not have voting rights in the trust fund. Murdoch transferred the voting rights shares of the news group and Fox to his four adult children. The voting rights of three children may exceed the fourth child, so as to laid a foreshadowing for the future competition of these two companiesEven if Laklan is now supervised Fox and News Group.Fox and News Group implemented a dual shareholding system. Class A stocks have no voting rights, and Class B stocks have voting rights.Murdoch's children are available in both Fox and News Group's shares held by the trust fund. In recent years, people's concerns about Murdoch's health have been troubled him.According to several employees, in 2018, he fell on his son's yacht and was seriously injured on his back. Employees said that in the past year, Murdoch began to re -appear in the office of Fox and News Group in London and New York. "This is the end of the era of the wealthy founder," said former executive Jonathan Miller, a former executive of news group worked with Lao Murdo.Miller said a generation of media giants such as Sumner Redstone, TED TURNER, and John Malone shaped the modern media industry.Today, the mantle has been passed from the founder to the promoted executives step by step.
