Rupert Murdoch, the media magnate who built an unmatched global media empire over seven decades from a single newspaper he inherited in his native Australia, announced on Thursday that he would step down.
"I have been engaged daily with news and ideas, and that will not change," Murdoch wrote in a memo to employees at Fox News, The Wall Street Journal, and the many other properties that make up his two corporations, Fox Corp. and News Corp. "The time is right for me to take on different roles."
