BREAKING: Rupert Murdoch Steps Down from Fox and News Corp

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Rupert Murdoch Steps Down from Fox and News Corp, Hands Network to Son Lachlan

Australian-born media mogul Rupert Murdoch announced he was stepping down as chairman of the board of both Fox Corp. and News Corp, the company said Thursday.

The move will end a media journey that began in 1952 when Murdoch took over the running of The News, a small Adelaide newspaper in South Australia owned by his late father.

“Our companies are in robust health, as am I,” Rupert Murdoch said in a note to Fox employees.

“We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them. But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.”

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch said in his note to employees, adding it was time for him to take on different roles.

Fox News announced Rupert Murdoch’s retirement on its air Thursday morning, with anchor Bill Hemmer praising the network’s founder.

“Rupert Murdoch created all of this and so much more across America and the globe,” Hemmer said. “His life’s work has left an indelible imprint on the global media landscape. His contributions are both innumerable and extraordinary, and we thank him for letting us be a part of it all.”

“Without him, we would not be here,” anchor Dana Perino added.

More to come…

READ: Trump Torches Fox Corp. Chairman Rupert Murdoch: How Can He Say ‘No Election Fraud’

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