Rupert Murdoch has been praised for being a “bold, brilliant, visionary leader whose audacity and tenacity built a magnificently successful global media empire”.

On Thursday, it was announced that the 92-year-old Australian-born newspaper owner would retire as chairman of his Fox and News Corp businesses.

Piers Morgan was among those paying tribute.

The 58-year-old has worked for a succession of Mr Murdoch’s outlets, and aged 29 he was appointed as the editor of the now defunct newspaper the News of the World by the media mogul.

Writing on X, formerly known as Twitter, Morgan said: “Rupert Murdoch has been a bold, brilliant, visionary leader whose audacity & tenacity built a magnificently successful global media empire.

“It’s been a privilege to work for him on and off for the past 30 years, and an ongoing masterclass in journalism & business. Thanks Boss!”

Morgan was the editor of the former tabloid newspaper until he jumped ship to the Daily Mirror, which he edited from 1995 to 2004, before signing a deal with Mr Murdoch’s News Corp and Fox News Media in 2021.

The agreement led to him doing columns for the New York Post and The Sun along with presenting Piers Morgan Uncensored, which airs on News UK’s newly launched channel TalkTV.

Also paying tribute to Mr Murdoch’s business skills was the ex-editor of The Sun, Kelvin MacKenzie, who called his former boss the “greatest media entrepreneur of this, or any other age”.

Writing on X, Mr MacKenzie also said: “It will lead to change.”

Another former editor of the same newspaper, David Yelland, wished Mr Murdoch success and also appeared to make reference to the hit US TV show Succession.

Sharing a photo, the public relations expert, who also worked at American tabloid newspaper the New York Post, said: “Happy retirement Rupert, best of succession luck to Lachlan. (Picture: New York – day I was appointed deputy editor of the @nypost.)”

Jesse Armstrong, creator, executive producer and writer of the popular series, Succession, admitted recently that the original script was based on Mr Murdoch and his family.

Mr Murdoch, who will be appointed chairman emeritus of each company, is going to be replaced in the role at Fox and News Corp by his son Lachlan Murdoch.