Rupert Murdoch, who studied at Oxford University’s Worcester College, is to retire as chairman of his Fox and News Corp businesses.

The Australia-born businessman is set to be replaced in the role at both companies by his son Lachlan Murdoch.

The change of leadership will take place following the companies’ annual meeting in mid-November.

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The 92-year-old will be appointed chairman emeritus of each company.

Starting with two small Australian newspapers, Rupert Murdoch built a media empire that spanned the globe.

Through a combination of risk-taking, ruthlessness, a willingness to play the long game and a keen gut instinct, he became a dominant presence in newspapers, TV, films, books and the internet worldwide.

As a result, Mr Murdoch gained significant political influence, which he used to bolster his business interests and – on occasion – to prod governments in the direction he favoured.

Ambitious politicians such as Tony Blair courted his support, believing the backing of his papers could mean the difference between winning and losing elections.

Mr Murdoch’s critics accused him of dragging down media standards and abusing his power, but even they had to admit he was committed to investing in journalism.

In the UK alone he poured millions of pounds into his newspapers – The Times, The Sunday Times, The Sun and the News of the World – and his Sky satellite television network.

He repeatedly employed the strategy of taking tabloid papers, turning them into money-spinners, then using the profits to prop up more prestigious but less lucrative projects.

Mr Murdoch twice transformed Britain’s media landscape, first by breaking the dominance of the print unions in the mid-1980s and then by developing hugely successful multi-channel pay TV.

But his influence stretched far wider, taking in leading American papers and television stations, Star TV in Asia, and the MySpace website.

His acquisition of the prestigious Wall Street Journal in 2007 was hailed as a major coup in the face of opposition from significant sections of the US media establishment.

And the tycoon’s announcement in 2009 that his newspapers would go against the consensus and start charging people to read them online was regarded by some as a bold move that could save quality journalism from extinction.

Ink flowed through Keith Rupert Murdoch’s veins from an early age.

He was born in Melbourne, Australia, on March 11, 1931, to leading Australian newspaper proprietor Sir Keith Murdoch.

Mr Murdoch was educated at Geelong Grammar, one of Australia’s most prestigious private schools, and Oxford University’s Worcester College, before working as a reporter and sub-editor on the Daily Express in London.

 

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This story was written by Matthew Norman, he joined the team in 2022 as a Facebook community reporter.

Matthew covers Bicester and focuses on finding stories from diverse communities.

Get in touch with him by emailing: Matthew.norman@newsquest.co.uk

Follow him on Twitter: @OxMailMattN1