Rupert Murdoch's statement on September 21 that the 92-year-old is stepping down as chairman of Fox Corporation and News Corp, the television and newspaper empires he has amassed over more than 70 years, is being met with incredulity by several influential media outlets. For example, The Economist has stated that "Rupert Murdoch isn't going anywhere just yet," and the publication is of the firm opinion that he will still wield plenty of weight in his capacity as "chairman emeritus." Although the future course is uncertain, we must take his function as a media Moghul seriously.
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| Rupert Murdoch stepping down as chair of Fox and News Corp | Rupert Murdoch | The Guardian |
The profound effects of Reaganomics and Thatcherism on the field of political economy are explained by a number of key scholarly works. Rupert Murdoch's global development in the information milieu has had an impact that is comparable to the Anglo-American impact of the early 1980s. At the expense of the media's effect, credibility, and confidence, Mr. Murdoch oversaw its expansion. The erosion of the editorial independence of free media is directly related to the democratic inadequacies we currently experience. Many people are unaware of the connection between reliable information and a healthy democracy. What happens if we treat the news media as if it were merely a business with no social or political responsibilities?
In his 1984 book Good Times, Bad Times, Sir Harold Evans, the eminent editor of London's The Sunday Times from 1967 to 1981, described Mr. Murdoch's shadowy side, including his preference for empowering managers over editors. It is abundantly evident from his altered introduction to the book's later printings following the phone-hacking incident that what transpired later had its roots in the manner in which he was permitted to break his solemn vows to the English parliament. The phone hacking issue involves more than just the immoral practises of the tabloid press; it was also a single incident that reduced public confidence in the news industry as a whole, and Mr. Murdoch played a key role in this decline.
Remembering what Sir Evans wrote is important at this point: "The situations I describe in Good Times, Bad Times have shown to be disturbingly symbolic. The ominous and vindictive undercurrent I felt in the final weeks of my association with Murdoch was an accurate reflection of something ethically wrong with the way he managed his business. The threat that came to stand in for the civic discourse and the entire political establishment in the decades that followed my year at the Times was the only thing that could compare to the internal rot. The writings of Sir Evans enable us to fully see the significance of his statement that "Rupert Murdoch is the stiletto, a man of method, and a cold-eyed manipulator."
It is a reality that the excesses perpetrated by Mr. Murdoch's tabloids led to the establishment of Leveson's commission in the United Kingdom. Justice Leveson stated in his final report that the British press had for too long "wreaked havoc in the lives of innocent people." He urged for greater transparency in their dealings and attacked the transactional relationship between powerful media owners, editors, and politicians. The Murdoch press was at the centre of this debate.
At a time when the legacy media is experiencing great financial strain, Mr. Murdoch announced his resignation. But it appears that the model he built has been internalised by the current digital information ecosystem, necessitating more than a simple leadership change to restore confidence in reliable news.
Read Murdoch’s full note to employees:
Dear Colleagues,
I am writing to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News. For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies.
Neither excessive pride nor false humility are admirable qualities. But I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me. Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication.
Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about the coming years - I certainly am, and plan to be here to participate in them. But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.
My father firmly believed in freedom, and Lachlan is absolutely committed to the cause. Self-serving bureaucracies are seeking to silence those who would question their provenance and purpose. Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.
In my new role, I can guarantee you that I will be involved every day in the contest of ideas. Our companies are communities, and I will be an active member of our community. I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice. When I visit your countries and companies, you can expect to see me in the office late on a Friday afternoon.
I look forward to seeing you wherever you work and whatever your responsibility. And I urge you to make the most of this great opportunity to improve the world we live in.
General Question:
Who is taking over for Rupert Murdoch?
Fox announced on Thursday that Mr. Murdoch would retire as chairman of both businesses at the November board meetings. Lachlan, his son, will take over as chairman of News Corp. and remain CEO of Fox Corp.
Rupert Murdoch resigned for what reason?
I have been engaged daily with news and ideas for my whole professional life, and that will not change," Murdoch wrote in a note to staff, adding that it was time for him to embark on other duties.
