is stepping down as chairman of Fox Corporation and News Corp but will stay on in the role of chairman emeritusIn many ways, the news was inevitable. The company is clearly planning its succession and how it manages Rupert’s decline. It has one eye on the market and one on ensuring the company maintains its direction.READ MOREWhy now?
The transition to Lachlan looks, for the moment, to be well and truly secure. This gives him the chance under the leadership of Rupert to guide the company in the direction he – or Rupert – wants. At the cost of US$787.5 million, Fox settled a defamation lawsuit brought by Dominion Voting Systems over baseless claims
But I doubt this played a huge role in Rupert stepping down because, in the end, a billion in lawsuits is nothing to a company that a few years ago made $70 billion by selling just some of its assets to Disney.