His clout has waned since the revelation more than a decade ago that employees of the News of the World had eavesdropped on phones and used other underhanded methods to get scoops on celebrities, politicians and royals. News Corp. owns the Times, Sunday Times and Sun newspapers, but News of the World closed and Murdoch sold his 40% stake in Sky when he failed to get complete control of the company. Fox News went through a series of sexual harassment scandals in the 2010s, which led to top executive Roger Ailes and prime-time personality Bill O'Reilly being pushed out. Murdoch dismissed them as isolated instances that were "largely political because we're conservative." Shares of News Corp. and Fox closed higher Thursday. FILE – Lachlan Murdoch, left, and Rupert Murdoch attend the TIME 100 Gala in New York on April 21, 2015. Media magnate Rupert Murdoch is stepping down as chairman of News Corp. and Fox Corp., the companies that he built into forces over the last 50 years.