Rupert Murdoch, who is 92 years old, is stepping down from his role as leader of Fox and New Corp. In a memo to employees, Murdoch wrote that his son Lachlan Murdoch will move up to become sole chairman of both Fox and News Corp. Murdoch will assume the role of “chairman emeritus.” In the memo, Murdoch said that he will continue to offer ideas and suggestions to the company.
Murdoch created his media empire beginning in Australia. He expanded to include newspapers and television stations in other countries including the U.S. His purchase of Metromedia Broadcasting in New York City launched what developed into Fox Broadcasting and grew to include Fox News. Murdoch bought the New York Post and Wall Street Journal and fashioned them into journalistic properties that reflected his strongly conservative political views.
Murdoch obtained U.S. citizenship in order to comply with requirements to hold TV station licenses in the U.S.
