Spoiler alert: The withering patriarch of Succession, Logan Roy, never stepped down as CEO of a media conglomerate before passing away, nor did he nail down a succession plan. But the real-life Logan Roy just did. Business magnate and media mogul Rupert Murdoch, 92, announced on Thursday that he’s retiring as chairman at Fox Corporation and News Corp. in mid-November after a seven-decade career. Despite the HBO drama creator Jesse Armstrong’s reminders that the characters are fictional and “no one family unlocks” them, the Roys have an uncanny resemblance to...

If you didn't know that media mogul Rupert Murdoch merely retired from the boards of Fox Corp. and News Corp., you might have assumed that he died. His announcement sent shockwaves across the information sphere, with a few outlets, including the Murdoch-owned Wall Street Journal, styling its coverage as if it were a eulogy. Also making headlines is Michael Wolff's soon-to-be-released book, "The Fall: The End of Fox News and the Murdoch Dynasty," which has been described in terms that make it sound like the autopsy of a body bathed...

Donald Trump has finally responded to Rupert Murdoch’s decision to retire as chairman of Fox Corporation and executive chairman at News Corp. In a Friday post on Truth Social, the former president denied claims that he “forced” Murdoch into retirement before quickly pivoting to criticizing “Democrat Mitch McConnell” for being weak-willed against the “Radical Left Lunatics.” Trump turned on Fox News after they correctly called the election for Joe Biden in 2020, and the network’s viewership dropped precipitously when the company fired host Tucker Carlson in the wake of a...

It took nearly 24 hours, but former President Donald Trump finally addressed the shocking news that Rupert Murdoch was stepping down as Chairman of the Fox Corporation. Murdoch has faced an ongoing barrage of insults and hectoring from the former president. After news broke of his stepping down, many in the political media world looked for Trump to immediately take a victory lap, which only finally came a day later and in a curiously muted humblebrag form. Trump cited “many people” giving him credit for forcing Murdich into retirement but...

"His genius has been to discover different ways in which his two passions - a desire for money and a thirst for power - can be combined," is how Prof Robert Manne, a former News Corp contributor, described it in a 2011 essay. By 1964 he owned papers in every state and was in the process of launching the nation's first ever national broadsheet - The Australian. He was also planning his move into the UK market, something his father had tried but failed to do. The channel has long...

The media business that Murdoch built over seven decades has been staggeringly successful and often controversial. But the firms also face existential threats from the significantly declining cable subscribers who fund Fox Corp. and challenges surrounding digital growth for their newspapers, such as the Wall Street Journal, inside of the News Corp portfolio. The announcement Thursday that media mogul Rupert Murdoch would step down from his roles running Fox Corp. and News Corp.

This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here. It’s time for the yearly tradition of throwing baby puffins off cliffs in Iceland. Don’t worry, it’s not what it sounds like. Experts say the practice has become vital to the survival of the young puffins, or pufflings, because while they could once instinctually find their way to the sea, they have become increasingly confused by the bright lights of nearby towns. Icelanders are wrapping up their search, which...

Rupert Murdoch, who announced Wednesday he was stepping back from his role as chair of Fox and News Corp, leaves a bigger imprint on American politics than the vast majority of people who have held elected office. Whether that impact has been for the good or for bad depends on the politics of the person making the judgement. But the sheer scale of Murdoch’s influence is not in question — something which, in itself, is rebuke to those who mocked his ambitions when he launched Fox News Channel in 1996....

Billionaire media baron Rupert Murdoch angered critics with one particular part of his announcement that he was stepping down as Fox Corp and News Corp chair. In a memo to colleagues on Thursday, Murdoch railed against so-called “elites” who he claimed “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,” he added. Critics on X, formerly Twitter, accused Murdoch of gaslighting, self-delusion, dishonesty and obliviousness ― given his...