WASHINGTON — Rupert Murdoch, the 92-year-old media magnate who created Fox News, is stepping down as leader of both Fox's parent company and his News Corp. media holdings.
Fox said in an announcement on Thursday that Murdoch would become chairman emeritus of both companies. His son, Lachlan, will become News Corp. chairman and continue as chief executive officer of Fox Corp.
Lachlan Murdoch said that “we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel to both companies.”
Murdoch's departure is the latest major change to the network, which said goodbye to Tucker Carlson — its most watched host — earlier this year on the heels of settling a defamation lawsuit with voting machine manufacturer Dominion for $787.5 million.
Murdoch was expected to be a central figure in that trial, which revolved around the network's on-air talent and guests alleging without proof that Colorado-based Dominion had tampered with voting machines to secure a win for Joe Biden in the 2020 presidential election.
No evidence of widespread voter fraud has ever been discovered, despite former president Donald Trump's repeated false claims that the election was fraudulent.
Days after the settlement with Dominion was announced, Fox News said it was severing ties with Tucker Carlson, who had for years led the highest-rated show on the network. No reason was given for Carlson's firing, but he was one of the most prominent voices cited by Dominion as pushing false election conspiracies.
This is a breaking news story and will be updated as more information becomes available.