Rupert Murdoch Stepping Down as Fox Corp Chairman

After several tumultuous years, Rupert Murdoch is stepping down as chairman of Fox Corp. The 92-year-old will step aside, leaving his son Lachlan Murdoch in charge of the company.

Though he is stepping down, in a statement, Murdoch emphasized that he wasn’t fully stepping away from the company and that he planned to be involved with the decision-making.

"Our companies are in robust health, as am I,” said Murdoch.

“I can guarantee you that I will be involved every day in the contest of ideas,” continued the businessman.

Murdoch stressed the idea that the companies were more than mere money-makers but also “communities”.

“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.”

Murdoch's decision to remain close to the company comes at a time in which his company has faced a lot of scrutiny for its rhetoric and various practices.

Recently, Fox has faced a lot of turmoil including settling a nearly $800 million lawsuit that was filed by Dominion.

The lawsuit stemmed from Fox News making multiple false claims that the 2020 election was rigged and that Dominion’s voting machines were rigged to steal the election.

In other news, Texas Representative Joaquin Castro (D) joined a group of lawmakers sending a letter to Secretary of Commerce Gina Raimondo, requesting answers on the Department of Commerce’s (Commerce) questionable oversight of assault weapons exports and its failure to release data on its approvals of the weapons.

Furthermore, the lawmakers are requesting that Commerce publicly release the data on the weapons exports.

“In March 2020, the Trump administration transferred oversight of [assault weapons exports] from the State Department to Commerce, after which the value of assault weapon export license approvals immediately shot up by roughly 30 percent, profiting gun manufacturers while putting civilians at risk around the world. This problem may be getting worse – yet your Department has not published updated annual data — which will soon be a full year late — or responded to a congressional inquiry,” wrote the lawmakers.