Yahoo Finance published this video item, entitled “Rupert Murdoch steps down from News Corp, YF looks at what it could mean for 2024 election coverage” – below is their description.
Lachlan Murdoch is now the Chair of News Corporation (NWSA, NWS), replacing his father Rupert, who became Chairman Emeritus. On Friday, the same transition will occur at Fox Corporation (FOXA, FOX), the company that owns Fox News. Fox News became known for its support of Donald Trump, both during the 2016 election and throughout his time in the White House. Now, the former president is the Republican frontrunner for the 2024 election. So what sort of role will the Murdochs play in Trump’s latest election bid? Not much, according to Brian Stelter, author of Network of Lies: The Epic Saga of Fox News, Donald Trump, and the Battle for American Democracy. Stelter explains that both the Murdochs and Fox were ready to move on from Trump following his 2020 loss. Stelter explains that in this environment, Rupert and Lachlan Murdoch seem “to be passengers, not leaders.” Stelter goes on to say that based on Rupert Murdoch’s emails, he gets the sense that “he’s a 92-year-old grandpa who just likes hanging out and reading his newspapers, and enjoying his yachts. He doesn’t seem to be as in command as he used to be. He doesn’t seem like he wants to be picking and choosing candidates the way he used to.”
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