Image: Getty Images

Rupert Murdoch Steps Down As Chairman Of Fox And News Corp

Media giant Rupert Murdoch is stepping down as chairman of his companies Fox Corporation and News Corp.

Mr Murdoch began his media empire in 1954 as a single newspaper in Adelaide, growing it into a career which lasted almost 70 years.

Stay up-to-date on the latest news with The National Briefing – keeping you in the loop with news as it hits:

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Mr Murdoch wrote in a memo to employees.

“But the time is right for me to take on different roles, knowing that we have truly talented teams.”

Mr Murdoch will be appointed Chairman Emeritus of each company.

“In my new role, I can guarantee you that I will be involved every day in the contest of ideas,” he added in the memo.

“Our companies are communities, and I will be an active member of our community.

“I will be watching our broadcasts with a critical eye, reading our newspapers and websites and books with much interest, and reaching out to you with thoughts, ideas, and advice.”

Lachlan Murdoch, Mr Murdoch’s son, will become the sole chair of News Corp and continue as executive chair and chief executive of Fox from mid-November.

In a separate statement, Lachlan thanked his father for all his work in the media landscape.

“On behalf of the Fox and Newscorp 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,” he said.

“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.”

Subscribe to The Briefing, Australia’s fastest-growing news podcast on Listnr today. The Briefing serves up the latest news headlines and a deep dive into a topic affecting you. All in under 20 minutes.