Rupert Murdoch will step down as chair of Fox and News Corp.
His son Lachlan will become the sole chair of News Corp – and continue as executive chair and CEO of Fox Corporation.
In an announcement, Lachlan congratulated his father on a “remarkable 70-year career” – and said the 92-year-old will continue to provide “valued counsel” in a new role as chairman emeritus.
“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,” he added.
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