Rupert Murdoch, creator of Fox News, stepping down as head of News Corp. and Fox Corp.

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<p>FILE - Rupert Murdoch introduces Secretary of State Mike Pompeo during the Herman Kahn Award Gala, in New York, Oct. 30, 2018. The media magnate is stepping down as chairman of News Corp. and Fox Corp., the companies that he built into forces over the last 50 years. He will become chairman emeritus of both corporations, the company announced on Thursday. His son, Lachlan, will control both companies. (AP Photo/Mary Altaffer, File)</p> PHOTO CREDIT: Mary Altaffer

FILE - Rupert Murdoch introduces Secretary of State Mike Pompeo during the Herman Kahn Award Gala, in New York, Oct. 30, 2018. The media magnate is stepping down as chairman of News Corp. and Fox Corp., the companies that he built into forces over the last 50 years. He will become chairman emeritus of both corporations, the company announced on Thursday. His son, Lachlan, will control both companies. (AP Photo/Mary Altaffer, File)

PHOTO CREDIT: Mary Altaffer
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Posted By: The Associated Press September 21, 2023

NEW YORK — Rupert Murdoch, the 92-year-old media magnate who created Fox News, is stepping down as leader of both Fox’s parent company and his News Corp. media holdings.

Fox said in an announcement today that Murdoch would become chairman emeritus of both companies. His son, Lachlan, will become News Corp. chairman and continue as chief executive officer of Fox Corp.

Lachlan Murdoch said that “we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies.”

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