Senile weirdo ruins media for everyone. More news at 11.

This is the best summary I could come up with:

Rupert Murdoch announced Thursday 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.

Rupert Murdoch called his son “a passionate, principled leader.”

The 92-year-old media mogul, who got into the newspaper business in the 1950s, became a major Hollywood executive in 1985 when he purchased Twentieth Century Fox from oilman Marvin Davis for $600 million.

In 1986, Murdoch got into the TV business after he purchased several US television stations and created Fox Broadcasting.

1 cable news channel in America and a bastion for Republican talking points and falsehoods.

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