The decision by Rupert Murdoch to step down from his role leading Fox Corp. and News Corp. and hand the reins to his son, Lachlan, has many media members, like Kara Swisher, buzzing about the company’s future.
Swisher, who used to work for Murdoch and has become a critic, shared her prediction for the future of Fox Corporation and News Corp. She boldly predicts that Lachlan will have a short reign before eventually selling the company to a familiar name.
“Prediction: It will be a short reign of the crown prince — after the old man goes, the other siblings will have the con and it will all be sold off (Elon? Right leaning PE firm or media org?),” Swisher wrote on the platform X, formerly Twitter.
Elon Musk purchased Twitter last year and has gone through a complete rebrand since the Tesla CEO purchased the outlet. However, early this summer, The New York Times reported that the social media outlet’s ad sales had plunged 59 percent. So the question is whether Musk wants another media platform despite his struggles with X.
As for Murdoch, he has been in the news recently after a new book claims that the media mogul believed Fox News could settle its defamation lawsuit with Dominion Voting Systems for $50 million.
The network eventually paid a $787.5 million settlement with the voting machine company after it was accused of purposefully airing falsehoods regarding the validity of the 2020 presidential election.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
