Rupert Murdoch announces his retirement and hands control of his companies to his son Lachlan.
Why it matters
Rupert Murdoch's retirement and the transition of power to his son Lachlan is significant because it marks the end of an era in the media industry. Murdoch has exerted a huge influence on politics and culture in the US, UK, and Australia over many decades through his news and entertainment businesses. The transition of power raises questions about the future direction of these companies and the impact they will have on the media landscape.
What the papers say
The Guardian says that Lachlan Murdoch's reputation as the most rightwing of the three siblings seen as plausible successors is deeply dismaying, given the power he will now wield and the context in which he will wield it. The Independent highlights the mixed reactions to Murdoch's retirement, with Chancellor Jeremy Hunt describing him as a formidable operator and former Labour leader Jeremy Corbyn accusing him of presiding over a news empire that poisoned global democracy. AP News provides a balanced view, acknowledging Murdoch's impact on the media in Britain while also noting the criticisms against him. Politico discusses the potential change in the relationship between politics and the press following Murdoch's departure as chair of News Corporation.
How we got here
Rupert Murdoch has been a defining influence in the media industry for the past half century. His newspapers and television channels have changed the political and cultural landscape in the UK and beyond. Murdoch's retirement and the transition of power to his son Lachlan mark a significant shift in the media landscape.
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Keith Rupert Murdoch, AC, KCSG is an Australian-born American media mogul who founded News Corp. He is the son of Keith Murdoch, one time senior executive of Australia's Herald & Weekly Times publishing company.