Media mogul Rupert Murdoch has announced he is stepping down as chairman of Fox News and News Corp. In a statement, he said that he had “decided to transition to the role of Chairman Emeritus at Fox and News,” with his son Lachlan to “ become sole Chairman of both companies.” “I am writing to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News,” Murdoch wrote.
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