Rupert Murdoch to Step Down As Head of Fox Corp and News Corp

Rupert Murdoch , to Step Down As Head of, Fox Corp and News Corp.

According to a news release, Murdoch will become chairman emeritus of both corporations.

For my entire professional life, I have been engaged daily with news and ideas, and that will not change.

But the time is right for me to take on different roles, Rupert Murdoch, news release, via NBC.

In my new role, I can guarantee you that I will be involved every day in the contest of ideas, Rupert Murdoch, news release, via NBC.

Murdoch's older son, Lachlan, will be named the sole chairman of both companies, NBC News reports.

I congratulate my father on his remarkable 70-year career, Lachlan Murdoch, statement, via NBC.

We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted, Lachlan Murdoch, statement, via NBC.

NBC reports that Murdoch transformed a small Australian newspaper business into a massive international media empire, which includes a movie studio and television network.

In 1996, Murdoch founded Fox News, a 24/7 network meant to compete with CNN, which has emerged as a pillar of modern conservative media.

In April, Fox Corporation and Fox News avoided a high-profile trial with a $787.5 million settlement for promoting conspiracy theories regarding the 2020 election.

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In April, Fox Corporation and Fox News avoided a high-profile trial with a $787.5 million settlement for promoting conspiracy theories regarding the 2020 election.