Rupert Murdoch Steps Down as Fox and News Corp. Chairman, Son Lachlan Now Chairman of Both

Rupert Murdoch is stepping down as Fox and New Corp chairman, the companies announced today. His son, Lachlan, will take over the role at each company as Rupert moves into a chairman emeritus role at each company.

“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,” said Lachlan Murdoch in a statement. “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. We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies.”

More to come…