His son Lachlan Murdoch will continue to lead his media empire.
and News Corp. said Thursday that Murdoch would step aside as chairman of Fox Corp. and News Corp., effective as of the annual meetings for his company’s in November.
“On behalf of the Foc and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career,” said Lachlan Murdoch in a statement. “We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted.
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