>
Akinwande Soji-Ojo
Rupert Murdoch has announced that he will step down as Chairman of Fox Corporation and News Corp.
The 92-year-old billionaire made the announcement in a memo to employees, on Thursday.
“For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles, knowing that we have truly talented teams,” he said.
His son, Lachlan Murdoch, will become sole chairman of both companies. Rupert called his son “a passionate, principled leader.”
Fox News also announced Rupert Murdoch’s retirement on air Thursday morning, with anchor Bill Hemmer praising the network’s founder
“Rupert Murdoch created all of this and so much more across America and the globe. His life’s work has left an indelible imprint on the global media landscape. His contributions are both innumerable and extraordinary and we thank him for letting us be a part of it all,” Hemmer said.
“Without him, we would not be here,” anchor Dana Perino added.