Rupert Murdoch , to Step Down As Head of, Fox Corp and News Corp.<br />According to a news release, <br />Murdoch will become chairman <br />emeritus of both corporations.<br />For my entire professional life, <br />I have been engaged daily with <br />news and ideas, and that will <br />not change. But the time is right <br />for me to take on different roles, Rupert Murdoch, news release, via NBC.<br />In my new role, I can guarantee <br />you that I will be involved every <br />day in the contest of ideas, Rupert Murdoch, news release, via NBC.<br />Murdoch's older son, Lachlan, will be named the sole chairman of both companies, NBC News reports.<br />I congratulate my father on <br />his remarkable 70-year career, Lachlan Murdoch, statement, via NBC.<br />We thank him for his vision, <br />his pioneering spirit, his steadfast <br />determination, and the enduring <br />legacy he leaves to the companies <br />he founded and countless <br />people he has impacted, Lachlan Murdoch, statement, via NBC.<br />NBC reports that Murdoch transformed a <br />small Australian newspaper business into a <br />massive international media empire, which <br />includes a movie studio and television network.<br />In 1996, Murdoch founded Fox News, a 24/7 <br />network meant to compete with CNN, which has <br />emerged as a pillar of modern conservative media.<br />In April, Fox Corporation and Fox News avoided a <br />high-profile trial with a $787.5 million settlement for <br />promoting conspiracy theories regarding the 2020 election. .<br />In April, Fox Corporation and Fox News avoided a <br />high-profile trial with a $787.5 million settlement for <br />promoting conspiracy theories regarding the 2020 election.
