“I’m calling to celebrate the demise of Maxwell,” said Rupert Murdoch down the phone to me on the morning Robert Maxwell’s private effects were being auctioned in a bankruptcy sale. I acknowledged that Maxwell had been a frightful scoundrel, but that he was an unforgettable character and I didn’t like to think of him floating around dead in the Bay of Biscay. “I do,” was the reply. Murdoch, as I was often reminded over many years, was a fierce competitor.

Rupert Murdoch's decision to step down as chair of both his global television and publishing empires Thursday marks the start of a new world order in media.

Why it matters: In naming his eldest son Lachlan as his successor, Murdoch, 92, has ensured that Fox Corp.'s and News Corp.'s conservative editorial bent will live on — but maybe not forever.

Australian business magnate Rupert Murdoch is stepping down as chairman of Fox Corp and News Corp, ending a decadeslong reign that will be passed onto his son, the company announced Thursday.

The transition to Lachlan Murdoch’s leadership as sole chair of News Corp will be effective in mid-November. Lachlan, 52, will continue to serve as executive chair and chief executive officer of Fox Corp, Fox News Corp said. Rupert Murdoch, 92, will serve as chairman emeritus.

Rupert Murdoch is stepping down as chair of Fox and News Corp, after building a media empire over seven decades that revolutionized news and entertainment and made him one of the world’s most influential and controversial tycoons.

Fox News Chairman Rupert Murdoch announced Thursday that he will step down from his role as head of the network and of the news division.

Murdoch wrote in a letter to his employees that he would move on from the position in November. His son, Lachlan Murdoch, will take the position of chairman of both Fox and News Corp.

Media mogul Rupert Murdoch is transitioning from his roles as Chair of Fox Corporation and Executive Chairman of News Corp, he announced on Thursday.

Murdoch, 92, informed colleagues in a letter Thursday of his decision, noting he was in good health. He will officially make the transition in November, and his son Lachlan will become the sole chairman of both companies.

Angelo Carusone, President & CEO of Media Matters for America, issued this statement following reports that Rupert Murdoch is retiring from the boards of Fox Corp. and News Corp. and will be replaced by his son Lachlan Murdoch:

Rupert Murdoch’s legacy is one of deceit, destruction, and death.

Wherever his media properties exist across the globe, they disregard basic journalistic practices and pump venomous misinformation into the public discourse.

The Theranos scam co-conspirators have to foot a huge bill for their crimes.

In a ruling yesterday (May 16), US district judge Edward Davila ordered Theranos founder Elizabeth Holmes to pay $452 million in restitution to those she duped while building her hoax blood-testing business.

Tucker Carlson’s sudden departure from Fox News was so unexpected, the channel was running commercials promoting his show Monday morning. There are some facts you should have in mind when attempting to make sense of Carlson’s departure.

Tucker Carlson’s sudden exit from Fox News rattled the media and political spheres on Monday.  

The departure raises questions about the future of Fox, the GOP and conservatism, and for the longtime host himself.  

Here are some takeaways following the Monday morning shocker:  

It deprives Fox of its biggest star 

Carlson has been the network’s A-lister on the commentary side no matter how you slice it.