Rupert Murdoch Resigns from Position of Fox Chairman

Rupert Murdoch, the media mogul, has announced that he will be stepping down as chairman of Fox and News Corp, with his son Lachlan taking over both companies. In a memo to employees, Murdoch stated that he feels it is the right time for him to pursue different roles. Murdoch, who is 92 years old, founded Fox News in 1996, which has now become the most watched TV news channel in the US. This is a developing story, and more details will be provided soon. To stay updated, you can refresh the page or receive breaking news on your smartphone or tablet through the BBC News App. Additionally, you can follow @BBCBreaking on Twitter for the latest alerts.