Earlier this year, FOX Corp. chairman Rupert Murdoch made the surprising announcement that he was stepping aside from his duties and passing the reins to his son, Lachlan Murdoch. The heir to the FOX throne revealed that his father is still a major player in the organization despite his retired status.
During the company’s earnings call Thursday, Lachlan Murdoch assured investors that Rupert Murdoch was still an active player in the company’s dealings.
“I can assure you that he is still very much involved and will continue to be for years to come,” Murdoch said of his 92-year-old father.
The statement aligns with what Rupert Murdoch said while announcing his retirement in September. At the time, he claimed that while the “time is right for me to take on different roles”, the 92-year-old would still be “involved every day in the contest of ideas.”
Lachlan Murdoch also addressed the volatile advertising market, saying the company is well-insulated from its ups and downs.
“We hear, and understand, that the advertising market appears to be mixed, or unsettled. However, we are not seeing that to the same extent due to our focus on sports and news,” admitted Murdoch. “With sports, we’re seeing high demand around our NFL and college football schedule.”
