Media mogul Rupert Murdoch has stepped down as the chairman of News Corp and Fox Corporation, handing control of the companies to his eldest son, Lachlan.
The 92-year-old built one of the world’s most influential media empires over a 70-year career, and will hand over control in November.
In a note to his staff, Murdoch denied the move comes as a result of his health, saying “Our companies are in robust health, as am I.”
But, despite many pointing to similarities with hit TV show Succession, experts believe Lachlan Murdoch has been in line to take over from his father for some time.
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