September 21, 2023
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0:32Now PlayingRupert Murdoch is stepping down as chairman of the boards of Fox Corp. and News Corp. following a nearly seven-decade career, and will become chairman emeritus of each company.
His son Lachlan Murdoch will become sole chairman of News Corp. and continue as executive chair and Chief Executive Officer of Fox, the company said in a statement Thursday.
In a letter to Fox employees, the elder Murdoch said “the time is right for me to take on different roles,” adding that “our companies are in robust health, as am I.” He promised he will still “be involved every day in the contest of ideas.”
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