
Rupert Murdoch is stepping down as chairman of Fox News and News Corp. In his place, his eldest son Lachlan Murdoch will take over to become sole chairman of both companies.
The change in leadership comes amid much speculation that Rupert’s three children from his second wife – Elisabeth, 55, Lachlan, 52, and James, 50 – each vied for the opportunity to control the media empire, mirroring the critically acclaimed HBO drama series, Succession.