Murdoch

One of the world’s leading media moguls, Rupert Murdoch, 92, is stepping down as chairman of the board of directors of media companies Fox Corp and News Corp, leaving management to his son Lachlan Murdoch instead, according to a letter from Murdoch, Fox News has reported. “All my professional life, I have dealt with news and ideas on a daily basis, and that will not change. But the time has come to take on new roles, knowing that we have very talented departments and a passionate and principled leader in Lachlan, who will be the sole chairman of both companies,” Murdoch said. /ritzau/