Rupert Murdoch hands Fox to son

Rupert Murdoch, the media mogul who founded Fox News and News Corp., announced he will retire as chair from both boards at the end of the year.

He will be succeeded by his son Lachlan Murdoch, who is already the CEO of both companies.

Rupert Murdoch, who is 91 years old, said that he is proud of what he has achieved and that he is confident in his son’s leadership.

He will remain as co-chairman emeritus of both boards and will continue to have influence over the editorial direction of his media empire.


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