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Fortune

Chris Morris

Rupert Murdoch is retiring as chairman of Fox and News Corp. at 92 years old

Rupert Murdoch News Corp Lachlan Murdoch Fox Corp

(Credit: Neil Mockford—GC Images)

Rupert Murdoch, arguably the most powerful person in media, is calling it quits.

The 92-year-old announced Thursday he would step down as chairman of Fox Corp. and News Corp. in mid-November. His son, Lachlan Murdoch, will become sole chair of News Corp. and continue as executive chair and CEO of Fox Corporation.

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