Rupert Murdoch is stepping down as chairman of the board of both Fox Corp.
and News Corp.
, the companies said Thursday. The move will be official in November.

Murdoch, 92, will be appointed chairman emeritus of each company. Lachlan Murdoch, one of his sons, will become sole chairman of News Corp. and will continue as Fox Corp.’s executive chair and CEO.

“Our companies are in robust health, as am I,” the elder Murdoch said in a note to employees. “We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them. But the battle for the freedom of speech and, ultimately, the freedom of thought, has never been more intense.”

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