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Rupert Murdoch is stepping down as CEO of Fox and News Corp.

Rupert Murdoch is stepping down as CEO of Fox and News Corp.
Rupert Murdoch is leaving the helm of his empire. The Australian-American business magnate and media mogul (92) is ending a more than seven-decade career during which he created a media world spanning from Australia to the United States. He will step down as chairman of each board effective as of the upcoming Annual General Meeting of Shareholders of each company in mid-November.
His son, Lachlan Murdoch, will become the sole chairman of News Corp and Murdoch will become chairman emeritus of the two corporations, the company said in a release.
Lachlan Murdoch, Murdoch’s eldest son, now seems to be his successor. In the note Murdoch called Lachlan a “passionate, principled leader” who can take the companies into the future.
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