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Media mogul Rupert Murdoch has announced that he's stepping down from running one of the world's most powerful media empires, he is leaving his roles as Chair of Fox and News Corp, with his eldest son, Lachlan, taking charge. Murdoch has chosen a new title, that of Chairman Emeritus. The editor of The Daily Beast, Lachlan Cartwright, in New York, said it wasn't a huge surprise and Rupert Murdoch's move is '' a retirement of sorts'' as he will ''still be involved in his organisation that he lives and breathes in, he is a natural gossip and he needs to know what's going on in the cities where he has a presence''. Rupert was a successful deal maker and with the challenge now to grow and invest it's ''still to be seen what's in Lachlan's DNA. It's only when Rupert dies and his kids split the empire up that we will see the real succession play out.'' (Photo: Rupert Murdoch (R) said his son Lachlan (L). Credit: Getty Images)
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