Rupert Murdoch, the Australian press baron who reshaped conservative media in his image, stepped down as chairman of Fox Corporation and News Corporation on Thursday.
He will become chairman emeritus of the two corporations, the company said in a news release.
The media titan’s resignation marks the end of an era. Murdoch built a small Australian newspaper business into a sprawling corporate empire that, at its height, included a movie studio, a television network and the influential cable channel Fox News.
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