NWSA - Rupert Murdoch exiting chairman roles at Fox News Corp.

2023-09-21 09:14:51 ET

Rupert Murdoch is retiring from chairing the boards at Fox ( NASDAQ: FOX ) ( NASDAQ: FOXA ) and News Corp. ( NASDAQ: NWS ) ( NASDAQ: NWSA ), a move that will cement control with son Lachlan.

Rupert Murdoch is set to move to the position of chairman emeritus of Fox and News Corp.

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch wrote in a memo to employees seen by CNN . “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.”

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