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Rupert Murdoch is finally stepping down – and his replacement has been named.
The 92-year-old billionaire, who started Fox News and is the owner of the New York Post and Wall Street Journal, is giving up the reigns to his empire.
Murdoch has stepped down as the CEO of Fox and News Corp after 70 years in charge, in a move which will be finalised in November, and son Lachlan will become the sole leader of both comapnies.
Everyone will hope the move goes a lot smoother than in HBO series Succession.
Murdoch has long been cited as the inspiration for the fearsome Logan Roy, who was played by Brian Cox.
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Succession writer Jesse Armstrong has spoken about how much the show is inspired by the empire of Murdoch.
But even a cursory glance at Succession sees some differences between fact and fiction.
Logan Roy, for example, has four children where Murdoch has six.
In both Succession and the real Murdoch family, the first child of the second marriage is considered by most to be the heir to the business.
In Succession, Kendall Roy thought he would be taking over the company – and in real life it’s now been confirmed that Lachlan is.
Fuelling these rumours are articles like one in The Times which said: “It was no secret to those close to the family that Murdoch had always favoured Lachlan.”
While Rupert’s other son, James, has been compared to Roman Roy as he dropped out of Harvard in 1995 to start his own hip-hop record label.
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Elisabeth Murdoch is the only daughter of their father’s second marriage – and she is definitely like Shiv from the series.
“She’s very savvy, very cunning. She is perhaps the most like Rupert,” New York Times writer Jim Rutenberg said.
Succession began with a health scare for the big boss, and something similar happened to Murdoch after he suffered a spinal hematoma after falling on his son’s yacht.
The plot from episode seven of Succession season one when the Roy family has a joint therapy session is taken directly from Murdoch family history.
The Times wrote: “The family is often thought to be modelled on the Murdochs, who own the parent company of this newspaper, or the Redstones, who control various American television networks and the film studio Paramount Pictures.
“But watching the sons on Succession, it’s hard not to think of Donald Trump Jr and Eric, floundering in their father’s wake.”
Murdoch slammed the mainstream media in a letter written to his employees announcing the news he was stepping down.
He wrote: “Our companies are in robust health, as am I. We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.
“But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense. My father firmly believed in freedom, and Lachlan is absolutely committed to the cause.
“Self-serving bureaucracies are seeking to silence those who would question their provenance and purpose. Elites have open contempt for those who are not members of their rarefied class. Most of the media is in cahoots with those elites, peddling political narratives rather than pursuing the truth.”
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