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- Rupert Murdoch is stepping down as chairman of News Corp and Fox News.
- It comes after a difficult year for Fox News.
- His eldest son, Lachlan, takes over from him.
Lachlan Murdoch said: “we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies.”
Rupert Murdoch (centre) and his sons Lachlan (left) and James pictured in 2018. Source: AAP
Besides Fox News, Rupert Murdoch started the Fox broadcast network, the first to successfully challenge the Big Three of ABC, CBS and NBC, with shows like The Simpsons. He is the owner of The Wall Street Journal and the New York Post.
“Our companies are communities, and I will be an active member of our community. I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest.”
A rough year for Fox
Murdoch and his family, particularly children James, Lachlan, Elisabeth and Prudence, were said to be the model of the HBO show Succession.
Murdoch’s rise to prominence
News Corp owns British newspapers the Times, Sunday Times and Sun newspapers, but News of the World closed and Murdoch sold his 40 per cent stake in Sky when he failed to get complete control of the company.