This is happening because Murdoch’s son, James, and his spouse, are taking over and they are both confirmed leftists.
Remind you of any other situation where a daughter and her husband, also confirmed leftists, are showing signs that they wield extreme influence?
He saw that "conservatism" properly packaged was a saleable product and he sold it well.
His spoiled-rotten progeny don't need for FOX to be successful. They can tank it and they will still be multi-millionaires.
Even better, while they are losing millions they will be garnering all sorts of support from the liberal media, academia, and show business.
Yachting expeditions with Hollywood whores are much more fun than coffee klatches with conservative stuffed-shirts.
CNN started off as a neutral source for news. Ted Turner wanted to be accepted into elite society so Jane Fonda was sent to marry Ted and turn CNN into another leftist media organization. the leftists at that time were very fearful of CNN just like Fox has been a thorn in their side.