Rupert Murdoch Retires, Citing Wish To Spend More Time With Money

Media Tycoon and Sith Lord Rupert Murdoch has signaled his intention to step down as CEO of 21st Century Fox today following a stunning 64 years at head of one of the world’s most influential media companies. The powerful and often controversial press baron has reportedly told his minions that moving away from the company was a “necessary progression”, in order for the ageing Mr Murdoch to spend less time with his children.

Murdoch has indicated that complete control of the company will be handed over to his two sons James and Lachlan, who say they are excited by the opportunity to run their father’s media empire, presumably into the ground judging by past examples of their work. However Murdoch Snr. has brushed off criticism from shareholders about the appointments, pointing out James’s world famous success running the “News of The World” before it was shut down for some reason, and his brother Lachlan’s recent chairmanship at Australia’s Channel Ten, or Channel Ten Holdings as it is now known by controlling liquidators.

Backup children in the Murdoch dynastical line were also not without rewards in the succession, with Rupert’s ten year old daughter Chloe set to take over day to day operations for Australia’s the Daily Telegraph, a change which is expected to bring a much needed touch of maturity to the masthead.

Despite controlling over 100 successful media companies at the time of his resignation, Murdoch will no doubt be best remembered for his successes in the field of print journalism, and having been behind many innovations in news reporting that have since become ubiqutous, such as his trademark style of just blatantly making up the news, a tradition that the Sauce carries on to this very day.

Click here to read the Sauce’s in depth interview with the editor of the Daily Telegraph about what this transition at News Corp means for print media in Australia.