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

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The announcement of Murdoch’s transition comes during a turbulent year for Fox, which in April agreed to pay a $787.5m (£634m) settlement after being sued by voting machine company Dominion over its reporting of the 2020 presidential election. The network is still facing a second, similar lawsuit from another voting technology firm, Smartmatic, seeking an even larger sum of $2.7bn.

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