Rupert Murdoch’s decision to step down as chairman of Fox and News Corp to be replaced by his son Lachlan was met with shock, with insiders saying: “We never thought he’d do it”.
In a memo to employees, the 92-year-old said “the time is right” for him to take on “different roles” as he ended a seven-decade career during which he created a media empire spanning from the UK to Australia to the United States.
