Rupert Murdoch, the longtime head of News Corp. and Fox, will step down as chairman and take on the role of chairman emeritus, capping a 7-decade career that built a media dynasty ranging from cable television to tabloid newspapers and turned him into one of the world's most influential media executives. David Folkenflik is a media correspondent for NPR and author of "Murdoch's World: The Last of the Old Media Empires." He joined CBS News to discuss Murdoch's decision.
