Rupert Murdoch, 92, will step down as chairman of both Fox Corp. and News Corp. in November. He will be appointed chairman emeritus of both companies while his son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as Fox Corp.'s executive chair and CEO. Rupert Murdoch expressed optimism about the companies' future and his intention to participate in it. However, he acknowledged the intensifying battle for freedom of speech and thought. This is a breaking news article with potential updates to follow.

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