Rupert Murdoch is stepping down as head of Fox and News Corp.  

The 92-year-old media mogul has been an influential figure in the US, UK, and Australia for decades, owning numerous tabloids, newspapers and TV channels.  

He's passing the baton to his son Lachlan but will remain with both companies as chairman emeritus.  

UK correspondent Vincent McAviney told Francesca Rudkin that Murdoch's age is a factor in him stepping down, with some reports of health problems in recent years. 

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