Lachlan Murdoch takes control of Fox, News Corp. as Rupert Murdoch steps down

Rupert Murdoch is retiring as chairman of Fox Corporation and News Corp. after a 70-year career building a global media empire.
Murdoch's son Lachlan is succeeding him, becoming sole chair of News Corp. while continuing as CEO and executive chair of Fox Corp.
The Murdoch media empire includes influential news outlets and entertainment brands such as Fox News, The Wall Street Journal, and 20th Century Fox.
Rupert Murdoch will have the title of chairman emeritus at both companies and says he will remain engaged with news and ideas.
The leadership transition resolves succession questions within the Murdoch family and hands the reins firmly to Lachlan amidst a changing media landscape.