Rupert Murdoch attends the WSJ. Magazine 2017 Innovator Awards at The Museum of Modern Art in New York on Nov. 1, 2017

Media mogul Rupert Murdoch steps down as chair of global media empire

The 92-year-old Australian business magnate Rupert Murdoch will take on the role of chairman emeritus of Fox Corp and News Corp, handing his position as chair to his son Lachlan.