Business & Tech
Rupert Murdoch Will Step Down As Head Of Fox Media Empire
The creator of Fox News will become chairman emeritus as his son Lachlan Murdoch takes control, a company release states.
NEW YORK CITY — Rupert Murdoch will step down as head of his sprawling media empire that includes Fox News, a company release states.
Murdoch, 92, will remain chairman emeritus of Fox and News Corp., according to the release.
He vowed in a letter to employees that he would remain engaged at Fox.
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"In my new role, I can guarantee you that I will be involved every day in the contest of ideas," Murdoch wrote.
His son Lachlan Murdoch will become the sole chair of News Corp. and continue as executive chair and chief executive office of Fox Corporation, the release states.
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"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.
Fox News, the conservative news network, is headquartered in New York City.
The Associated Press contributed to this report.
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