Murdoch, 92, will become Chairman Emeritus of each company following the company’s annual general meetings in mid-November.
Lachlan Murdoch will replace his father as sole chair of News Corp and continue as Executive Chair and Chief Executive Officer of Fox Corporation.
“Our companies are in robust health, as am I,” the elder Murdoch said in a note to employees. “We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them. But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense,” he said in a letter to employees.
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