Billionaire Rupert Murdoch is stepping down as chairman of his media empire. The 92-year-old mogul will hand over the reins of both Fox and News Corp. to his son, Lachlan Murdoch. Jo Ling Kent has more. #news #rupertmurdoch #foxnews "CBS Evening News with Norah O'Donnell" delivers the latest news and original reporting, and goes beyond the headlines with context and depth. Watch "CBS Evening News" every weekday night at 6:30 p.m. ET on the CBS Television Network and at 12 a.m. ET on the CBS News app. Subscribe to the "CBS Evening News" YouTube channel: bit.ly/1S7Dhik Watch full episodes of "CBS Evening News": cbsn.ws/23XekKA Follow "CBS Evening News" on Instagram: bit.ly/1T8icTO Like "CBS Evening News" on Facebook: on.fb.me/1KxYobb Follow "CBS Evening News" on Twitter: bit.ly/1O3dTTe Download the CBS News app: cbsn.ws/1Xb1WC8 Try Paramount+ free: bit.ly/2OiW1kZ For video licensing inquiries, contact: licensing@veritone.com