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James Murdoch resigns from News Corp.



BUSINESS

9:27 PM PDT 31/31/2020

by

Alex Weprin

The mogul resigned on Friday afternoon.

Former 21st Century Fox CEO James Murdoch has resigned from the board of News Corp., the company’s parent company Wall Street Journal.

On Friday afternoon, Murdoch wrote in a resignation letter: “My resignation is due to disagreements over certain editorial content published in the company’s intelligence services and some other strategic decisions.”

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James Murdoch was on the board of News Corp. since 2013.

News Corp. is one of two media companies controlled by James’ father Rupert Murdoch and the Murdoch family. The second is Fox Corp., the parent company of Fox News and the Fox Broadcasting Network, which was formed after Fox sold its entertainment assets to the Walt Disney Company in the 21st century.

Murdoch resigned as CEO of Fox after the sale, while his brother Lachlan Murdoch became CEO and Father Rupert became co-chair. News Corp., which owns Wall Street Journal, Dow Jones, New York Post, News UK and newspaper and television assets in Australia are managed by CEO Robert Thomson.

After leaving Fox, Murdoch founded his own company, Lupa Systems, which invested in technology companies and other companies. Lupa Systems has acquired shares in Vice Media, the tech startup Betalab, and is following a stake in MCH Group, the parent company of Art Basel. Joe Marchese’s Lupa Systems and Attention Capital also acquired a majority stake in Tribeca Enterprises, the parent organization of the Tribeca Film Festival, last year.




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