(Media News) Rupert Murdoch steps down as chairman of Fox and News Corp.

By Dave Van Zandt

Media mogul Rupert Murdoch is retiring in November as the chair of Fox and News Corp.

Murdoch, 92, will transition into a new role as chairman emeritus for both companies and his son, Lachlan Murdoch, will become sole chair of News Corp and continue as executive chair and chief executive officer of Fox Corporation.

The media titan’s resignation marks the end of an era. Murdoch built a small Australian newspaper business into a sprawling corporate empire that, at its height, included a movie studio, a television network, and the cable channel Fox News.