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Rupert Murdoch steps down as chairman of Fox and News Corp.

  • Rupert Murdoch steps down as Chairman of Fox and News Corp, stating that "the time is right" for him to take on different roles.
  • Murdoch's son, Lachlan Murdoch, will become the sole Chairman of News Corp and continue as the chair and CEO of Fox.
  • In a turbulent year for Fox, the company faced a $787.5m settlement after being sued by Dominion, and parted ways with influential TV host Tucker Carlson.
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