Rupert Murdoch to retire as media giant after 70 years, son Lachlan to take over

- Rupert Murdoch, founder of Fox Corporation and News Corp, is resigning as chairman of both companies in November 2021.

- His son, Lachlan Murdoch, will take over as chairman of News Corp. and will remain as executive chairman and CEO of Fox Corporation.

- Rupert Murdoch has been a media mogul for almost 70 years, starting with a local newspaper in Australia and expanding to Britain and the US.

- He owns several influential media outlets, such as The Wall Street Journal, New York Post, HarperCollins Publishers and Fox News.

- After his resignation, he will be appointed honorary chairman of both the companies.

Fox Corporation, the parent company of Fox News, has recently faced several controversies, such as the Dominion Voting Systems lawsuit and the departure of Tucker Carlson.

- Murdoch rejected false claims about the 2020 election that were promoted on air by some of his hosts.

Murdoch acquired 21st Century Fox in 1985 and launched Fox Television Group and Fox News in the following years.

Fox Corporation became a publicly traded company in 2019 after selling 21st Century Fox to Disney, the parent company of ABC News.

Murdoch is known for his vision, pioneering spirit, determination and legacy in the media industry.