Billionaire business magnate Rupert Murdoch announced Thursday that he is stepping down from the position of chairman at Fox Corporation and News Corp.

In a letter to employees, the U.S.-Australian media tycoon, 92, said that the companies were “in robust health, as am I.”

“Our opportunities far exceed our commercial challenges,” he said in a letter seen by Reuters.

“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.”

(Reuter)