In a momentous occasion for the Murdoch family, Lachlan Murdoch, the new chairman of FOX Corporation, paid tribute to his father, media mogul Rupert Murdoch, during the annual shareholders meeting. Rupert Murdoch officially became Chairman Emeritus of the company, following the same position at News Corp earlier in the week. This succession plan, which was announced earlier this year, solidifies Lachlan Murdoch as the sole chairman of both companies.

During the meeting, Lachlan Murdoch began by congratulating his father on his transition to Chairman Emeritus, acknowledging the "unique and strong company he has built over so many years." He expressed gratitude on behalf of the FOX board of directors, the leadership team, and all the shareholders who have benefited from Rupert Murdoch's hard work, vision, and enduring legacy. Lachlan Murdoch also expressed his excitement for his father's continued counsel and contributions in the years to come.

Earlier in the week, during the News Corp annual shareholders meeting, Rupert Murdoch spoke highly of Lachlan, noting that his son shared a similar sense of purpose as Rupert's father, Sir Keith Murdoch. Rupert Murdoch emphasized their belief in humanity's high destiny, stating that Lachlan also shared this conviction. He highlighted that this sense of destiny is not just a blessing, but also a responsibility.

Rupert Murdoch's extensive media empire includes Fox News Channel, which has firmly established itself as a leader in 24-hour news coverage since its launch in 1996. Celebrating its 25th anniversary recently, Fox News has consistently dominated its competition in ratings, becoming one of the most influential news sources globally. Rupert Murdoch held various positions within 21st Century Fox, including Executive Chairman and CEO, until its merger with The Walt Disney Company in 2019. He had been the Chairman of 21st Century Fox since 1991.

Rupert Murdoch's career took off in 1954 when he took control of News Limited, a public corporation in Australia previously run by his father. From there, he expanded his company's reach both nationally and internationally, acquiring and founding newspapers in Australia, the UK, and the US. In 1980, News Corporation was established to consolidate these international operations, and by 1985, Murdoch acquired Twentieth Century Fox and several regional television stations in the US. The launch of FOX Broadcasting Company in 1986 and FOX Sports' success solidified the company's position as a leading television group in the country. In 2019, FOX Corporation was launched as a standalone, publicly traded company following the separation of 21st Century Fox, further reshaping the US media landscape.

During the meeting, Lachlan Murdoch reported that the company had started the new fiscal year in a position of financial strength and highlighted the exceptional results delivered from its various assets. He also mentioned the importance of the upcoming 2024 election, which he believes will continue to drive viewership and revenue across FOX Corporation's properties.

Beyond the corporate setting, the Murdoch family was celebrated at the American Australian Association's 75th Anniversary Benefit Dinner. Rupert Murdoch and Lachlan Murdoch were honored for their stewardship and leadership in advancing the legacy of Sir Keith Murdoch, who founded the association in 1948. Speaking at the event, Lachlan emphasized the enduring alliance between America and Australia, grounded in shared cultural values and a history of fighting together in major wars.

The American Australian Association, which has awarded over $16 million to American Australian graduates, veterans, and artists since 2002, opened The Murdoch Center in New York City this year. This center serves as the headquarters for the association and is a testament to the Murdoch family's commitment to strengthening the relationship between the two nations.

During the event, various speakers praised Sir Keith Murdoch's vision and Rupert Murdoch's continuation of that mission. Australian entrepreneur Andrew Liveris commended Rupert Murdoch for becoming one of Australia's greatest business exports and acknowledged Lachlan Murdoch's leadership at FOX and his co-chairing of the American Australian Association Business Council.

The evening concluded with a performance by The Beach Boys, providing a memorable end to a night of celebration and recognition.