2:27 PM PDT 31.07.2020
On Friday night, the tycoon sent a letter of resignation.
Former 21st Century Fox CEO James Murdoch has resigned from News Corp., the parent company Wall Street Magazine.
In a letter of resignation filed Friday afternoon, Murdoch wrote: “My resignation is due to disagreements over certain editorial content published in the company’s news outlets and some other strategic decisions.”;
James Murdoch was on the board of directors of News Corp. since 2013.
News Corp. is one of two media companies controlled by James Rupert Murdoch’s father and the Murdoch family. Another is Fox Corp., the parent company of Fox News and Fox, which was formed after 21st Century Fox sold its entertainment assets to Walt Disney.
Murdoch resigned as Fox’s CEO after the sale, his brother Lachlan Murdoch became CEO, and Rupert’s father became co-chairman. News Corp., which owns the company Wall Street Magazine, Dow Jones, New York Post, News UK and newspaper and television assets in Australia, is managed by CEO Robert Thomson.
Leaving Fox’s fold, Murdoch founded his own company, Lupa Systems, which invested in technology companies and other firms. Lupa Systems has acquired stakes in Vice Media, a technical startup for Betalab, and has a stake in MCH Group, the parent company of Art Basel. Lupa Systems and Joe Marchese Capital Capital also acquired a majority stake in Tribeca Enterprises last year, the main organization of the Tribeca Film Festival.