Rupert Murdoch announces retirement from the top of his media companies

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Rupert Murdoch at his annual celebration in June: Robust health

Photo: Victoria Jones / dpa

One of the world's most influential media entrepreneurs has announced his retirement, with Rupert Murdoch set to step down as chairman of News Corporation and Fox Corporation in November. The positions of the 92-year-old will be taken over by his son Lachlan. Rupert Murdoch is to be given a seat as an emeritus board member in the companies.

In a letter to company employees, quoted by the BBC, Rupert Murdoch wrote: "Our companies are in robust health – and so am I. Our opportunities are far greater than the commercial challenges.« He is optimistic about the coming years, "and I plan to participate in it."

Murdoch founded Fox News in 1996, which is now the most-watched news channel in the United States. News Corp. owns numerous newspaper brands in the UK (»The Sun«, »The Times«), the USA (»Wall Street Journal«, »New York Post«) and Australia.

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feb/AP/Reuters