Lachlan Murdoch appears at the Vanity Fair Oscar Party in Beverly Hills, Calif., on Feb. 9, 2020. Rupert Murdoch is stepping down at Fox and News Corp, son Lachlan will take over as chairman of both companies. For Lachlan Murdoch, this has been a long time coming — assuming, that is, his moment has actually arrived. On Thursday, his father Rupert Murdoch announced that he’s stepping down as the head of his two media companies — News Corp. and Fox Corp. -- as of November. (Photo by Evan Agostini/Invision/AP, File)