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Conservative media mogul Rupert Murdoch is stepping down from News Corp, Fox

Photo by Axelle / Bauer-Griffin / FilmMagic

Conservative media mogul Rupert Murdoch is stepping down as chair of Fox and News Corp on Thursday, according to The Wall Street Journal. Murdoch will exit his roles at both companies in mid-November and will be appointed as chairman emeritus of both companies.

“For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles,” Murdoch reportedly wrote in a staff memo Thursday. “Our companies are in robust health, as am I.”

In true Succession style, Murdoch’s eldest son, Lachlan Murdoch, appears to be his heir apparent. Lachlan will be taking over as the sole chair of News Corp, the company that owns a vast number of newspapers, magazines,…

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