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Rupert Murdoch announced he will be stepping down as the chairman of Fox and News Corp Thursday morning.His son Lachlan Murdoch will continue as executive chair and CEO of Fox Corporation and become the sole chairman of News Corp, while Rupert Murdoch will be appointed chairman emeritus of the two corporations, the company said in a press release. The moves will be completed in November. 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,CNN reported. But the time is right for me to take on different roles, knowin
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g that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies. Rupert Murdoch led the global empire for nearly 70 years. The 92-year-old got his start in the newspaper business in Australia before becoming a Hollywood executive in 1985 when he purchased Twentieth Century Fox.He got into the TV business in 1986 after he purchased several U.S. television stations and created Fox Broadcasting. Fox News launched in 1996 and is credited with shaping conservative media today. We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless pe
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ople he has impacted, said Lachlan Murdoch.The elder Murdoch s exit comes after a year of challenges for the
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media businesses, including a $787.5 million settlement over a defamation Sxxx Graduating high school student shares experience with city s virtual internship program
GENEVA AP 鈥?The U.S. Department of Justice says FIFA and other soccer bodies are entitled to get more than $200 million from cash forfeited in a sprawl
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investigation of corruption in soccer. The DOJ says a first amount of $32.2 million will be paid into a World Football Remission Fund overseen by the
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FIFA Foundation charity. It s the start of returning funds to the victims of the FIFA bribery scandal that rocked world soccer in 2015 and continues today. Todays announcement confirms that money stolen by corrupt soccer officials and sports marketing executives through fraud and greed will be returned to where it belongs and used to benefit the sport, stated Acting United States Attorney Kasulis.FIFAs charity funds education, development and humanitarian relief projects. FIFA had asked federal prosecutors in 2016 for tens of millions of dollars in restitution.The Justice Department said, so far, 50 people and corporate defendants, from more than 20 countries, have been charged in the corruption scheme. .Page-below > .RichTextModule display:none; .Page-below .Link font-size: 12px; padding: 5px 10px;border: 1px solid 005687;border-radius: 4px;font-family: proxima-nova , sans-serif; Report a typo
