After building an empire over seven decades, the Australian-born media mogul, 92, announced he is handing the reigns over to his son, Lachlan.
After building an empire over seven decades, the Australian-born media mogul announced on Thursday that he will transition from his roles as chair of Fox Corporation and executive chairman of News Corp in November.Credit:His son Lachlan will become the sole chairman of both companies, while the older Murdoch will become “chairman emeritus”.
“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. “Neither excessive pride nor false humility are admirable qualities. But I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me.”
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