Media magnate Rupert Murdoch to step down

The 92-year-old founder of Fox News said Thursday that he would step down from his roles as the chairman of Fox News’s parent company, Fox Corp., and media company, News Corp. Murdoch said he is in good health, and that he will remain active at Fox “every day in the contest of ideas.” His son Lachlan Murdoch will lead both companies as chairman beginning in November.

What did Murdoch do aside from founding Fox? Before Murdoch founded Fox News in 1996, he spent decades owning, buying, and founding several newspapers in Australia and the United Kingdom. He then moved into buying and managing television stations. Murdoch’s Fox broadcast network was the first to successfully challenge ABC, CBS, and NBC. Some of the papers Murdoch purchased include The Wall Street Journal and The New York Post.

Dig deeper: Read Cal Thomas’s column in WORLD Magazine about what matters in the business of journalism.