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Media Mogul Rupert Murdoch is Retiring

(Photo courtesy of Drew Angerer-Pool/Getty Images)

21st Century Fox head Rupert Murdoch is stepping down.

Though no official announcement has been made, multiple media outlets report that the 84-year-old plans to retire and hand the reins to his son James Murdoch, assuming approval from the company’s board of directors.

Murdoch has built the company into a media juggernaut over his tenure, launching FOX, Fox News and various cable channels. The 21st Century Fox movie studios remains a powerhouse. News Corporation, which owns HarperCollins publishing, the Wall Street Journal and the New York Post, was spun off in 2013. (USA Today)

Murdoch bought the Metromedia television stations, and later bought out Marvin Davis’ remaining stake in Fox for $325 million. The six television stations owned by Metromedia would form the nucleus of the Fox Broadcasting Company fonded in 1986, which would go on to have great success with shows like The Simpsons  and The X-Files

If it was for him many many things in media/TV would be different.

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