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

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.