(Washington Examiner) Fox News Chairman Rupert Murdoch announced Thursday that he will step down from his role as head of the network and of the news division.
Murdoch wrote in a letter to his employees that he will move on from the position in November. His son, Lachlan Murdoch, will take the position of chairman of both Fox and News Corp.
“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch’s statement read. “But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies. 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.”
Murdoch was in charge of News Limited, a public corporation in Australia previously run by his father, in 1954 when he was in his mid-20s. His company then bought and founded Australian newspapers, and also looked to purchase publications in the United States and the United Kingdom.
