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France 24

Business

Carys GARLAND

End of an era? Rupert Murdoch steps down as chair of News Corp, Fox Corp

Rupert Murdoch News Corp Lachlan (Person) Fox Corporation

BUSINESS DAILY © FRANCE 24

Seventy years after inheriting the Australian newspaper that he used as a foundation to build a global empire, media mogul Rupert Murdoch says his son Lachlan will replace him as chair of Fox Corporation and News Corp. However, Murdoch senior has signalled he will still be very present in decision-making and "contests of ideas", becoming chair emeritus of the firms, which have a market capitalisation of some $27 billion.

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