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Rupert Murdoch's announcement of stepping down came on a Thursday, with Lachlan Murdoch set to become the sole chairman.
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Rupert Murdoch started his media career in the 1950s, entering the newspaper business and later expanding into Hollywood and television.
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Fox News, launched in 1996 as a competitor to CNN, became the leading cable news channel in the United States under Rupert Murdoch's leadership.
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Murdoch's tenure at Fox News saw controversies related to the promotion of election misinformation and defamation lawsuits.
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Lachlan Murdoch has privately expressed his disagreements with former President Trump's behavior and potential negative consequences for the country.
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The impact of Rupert Murdoch's departure on the future editorial direction of Fox Corporation remains uncertain.
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The announcement signifies a significant changing of the guard in these influential media companies.
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Rupert Murdoch's legacy in the global media landscape is characterized by his pioneering contributions.
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The retirement raises questions about potential shifts in Fox News' editorial stance and political involvement.
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Rupert Murdoch's influence in media and entertainment spans several decades, making him a prominent figure in the industry.
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