Media magnate Rupert Murdoch on Monday announced that he would be stepping down as the leader of both Fox News' parent company and his News Corp media holdings with his son, Lachlan, set to take his place. Through his decades-long career, Murdoch, 92, built an empire beginning with his father's newspaper in Adelaide, Australia and became a multibillionaire.
Media magnate Rupert Murdoch is stepping down as the leader of both Fox News’ parent company and his News Corp media holdings, with his son, Lachlan, set to take his place