Rupert Murdoch has announced that he will step down as chairman of Fox Corporation and News Corp. “For my entire professional life, I have been engaged daily with news and ideas, and that will not change,” Murdoch wrote in a memo to employees. “But the time is right for me to take on different roles, knowing that we have truly talented teams.” His son, Lachlan Murdoch, will become sole chairman of both companies. Rupert Murdoch called his son “a passionate, principled leader.” Read more at the link in bio. 📷: Mary Altaffer/AP