Media mogul Rupert Murdoch, 92, is stepping down from his chairman roles at Fox Corporation and News Corp, the companies announced on Thursday, ending a decadeslong career that saw him become a major force in American conservative politics. The elder Murdoch will transition to chairman emeritus of the two companies. "On behalf of the FOX and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career," Lachlan Murdoch said in a statement released by the company. In a note to employees shared by Fox News, the crown jewel of the Fox Corporation empire, Rupert Murdoch said that he is "truly proud" of what they "have achieved collectively through the decades," expressing gratitude to his colleagues. Murdoch's media empire began in the 1950s when he inherited what was left of his father's businesses.

Source: Fox News September 21, 2023 13:35 UTC