Media mogul Rupert Murdoch has announced that he is stepping down as chairman of the board of his Fox and News Corp corporations
Murdoch's 52-year-old son will become chairman of the board of directors of both companies
Media mogul Rupert Murdoch has announced that he is stepping down as chairman of the board of Fox and News Corp.
Source. It is reported by CNN.
It is noted that the chairman of the board of directors of both companies will be Rupert Murdoch's 52-year-old son Lachlan.
"All my professional life, I have been involved in news and ideas every day, and that will not change. But the time has come when I can take on other roles, knowing that we have truly talented teams," Murdoch Sr. wrote in a letter to employees.
Rupert Murdoch is 92 years old and one of the most famous media moguls in the world.
He is the founder and owner of News Corp, which operates one of the world's largest publishing houses, HarperCollins, Fox News, the Wall Street Journal, the New York Post, the Sun, and the Times.
Murdoch's net worth is estimated at $17.3 billion.
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