Rupert Murdoch, the influential media mogul at the age of 92, is relinquishing his role as chairman of News Corp, the parent company of prominent publications like the Sun and the Times, as well as Fox Corporation.
His eldest son, Lachlan Murdoch, aged 52, will succeed him as chairman of both companies.
In a note to employees, Murdoch affirmed, “Our companies are in robust health, as am I.”
Murdoch’s career spanned over seven decades, during which he built one of the world’s most influential media empires.
It began when he inherited a 50% stake in local newspapers in Adelaide, Australia, in the 1950s and evolved into ownership of some of the world’s most influential newspapers and television stations.
Notably, earlier this year, Fox News paid nearly $800 million to settle a defamation case with Dominion Voting Systems over false claims made during the 2020 election.