World’s Most Powerful News Titan Stepping Down


( – BREAKING NEWS NOW: Rupert Murdoch, the world’s most powerful media titan who has been the Chairman of Fox Corporation and Executive Chairman of News Corp for as long as most people can remember, is stepping down.

The 92-year-old Murdoch made his announcement just moments ago in a letter. According to Murdoch, while he still enjoys good health, he will make the transition in November with his son Lachlan becoming the chairman of both companies.

In part, Murdoch’s letter reads:

“I am writing to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News Corp. For my entire professional life, I have been engaged daily with news and ideas, and that will not change. 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.

“Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication. Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.”