Rupert Murdoch, the 92-year-old media mogul who has dominated the right-wing news landscape in the English-speaking world for decades, is stepping down as the head of News Corp, the owner of The Sun, The Times, and Fox News.
Murdoch will be handing over the reins to his son Lachlan, who will become the new chair of News Corp.
Despite stepping back Murdoch has vowed he is still fit and mentally able to continue engaging with the business.
In a letter sent to employees he said: "In my new role, I can guarantee you that I will be involved every day in the contest of ideas."
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In a career spanning more than 70 years, Murdoch has turned a singular Adelaide newspaper into a media empire that has helped dominate the news agenda of the UK, the US and Australia.
Despite never running for political office he has had an enormous influence on the government's of where his businesses operate.
Here Yahoo News UK explores Murdoch's business empire:
News Corp UK
News Corp UK, is a subsidiary of the multinational company News Corp, through which Murdoch and his family own most of their businesses.
News Corp UK is the current publisher of The Sun, The Times and The Sunday Times.
The company used to also publish The News of the World but Murdoch stopped printing it in the fallout of the phone hacking scandal.
Watch: Rupert Murdoch to retire as Fox and News Corp chairman
In recent years News Corp UK has branched out of print and digital media to also launch Times Radio and TalkTV.
Murdoch also set up Sky and Sky News in the 1990s and kickstarted the growth of subscription TV channels in the UK, but this was sold to Comcast in 2018.
In the US, News Corp owns The Wall Street Journal and the New York Post, and Murdoch also owns Fox Corporation, which runs Fox News.
Fox News is arguably Murdoch's most famous and notorious business due to its firebrand right-wing politics that has often been accused of putting bipartisanship before journalistic accuracy.
It is now the most popular news channel in the US and attracts a far larger audience than its main rivals.
Murdoch initially owned Fox News as part of 20th Century Fox, which had a huge entertainment business and was behind the production of numerous films and TV shows.
The news empire was taken out of Fox when most of its assets were sold to Disney in 2017.
Murdoch acquired The Wall Street Journal in 2007 and it remains the US's second most popular newspaper with its focus on financial and business news.
The New York Post was acquired in 1993 by News Corp and remains one of the US's most popular tabloids.
News Corp also owns HarperCollins, one of the biggest English-language book publishers on the planet.
In Australia, where Murdoch started his journalism career, News Corp Australia is responsible for publishing 142 newspapers across the country.
This includes The Australian, the country's only daily national paper.
Murdoch took over the business in his early 20s following the death of his father and despite his young age quickly gained a reputation for being one of the best media proprietors in Australia
He quickly grew the business and acquired other titles and now News Corp Australia is the dominant player in the business.