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Rupert Murdoch steps down as Fox and News Corp chairman in favour of son Lachlan

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Lachlan, 52, emerged as the heir apparent during his time as an executive in the late 1990s. However, he left the business in 2005 after a feud with then boss of Fox News, Roger Ailes. Lachlan returned to his father’s empire in 2014 and has held top positions ever since.

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