Media mogul Rupert Murdoch steps down as chairman of Fox, News Corp
- His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said
- Besides Fox News, Murdoch Snr started the Fox broadcast network, and is owner of the Wall Street Journal and the New York Post
Rupert Murdoch, the 92-year-old media magnate who created Fox News, is stepping down as leader of both Fox’s parent company and his News Corp media holdings.
Fox said on Thursday that Murdoch would become chairman emeritus of both companies. His son, Lachlan, will become News Corp chairman and continue as chief executive officer of Fox Corp.
Lachlan Murdoch said that “we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies”.
Besides Fox News, Murdoch started the Fox broadcast network, the first to successfully challenge the Big Three of ABC, CBS and NBC. He is owner of the Wall Street Journal and the New York Post.
Murdoch is a force in the conservative world, where Fox News Channel has profoundly influenced television and the nation’s politics since its start in 1996.
Murdoch vowed in a letter to employees that he would remain engaged at Fox.
