The exit of the most powerful player at News Corp has made headlines on both sides of the Atlantic. At 92, Rupert Murdoch has decided to step down as executive chairman, making way for his son Lachlan. But will much change, given Rupert Murdoch's reputation for being close to the action?

In this week's episode of Power Play, host Anne McElvoy talks to Michael Wolff, long-time chronicler of the Murdoch empire and biographer. His latest book, "The Fall: The End of Fox News and the Murdoch Dynasty," is published this week.

They discuss what's at stake for News Corp and Fox and what the change at the top will mean for general elections in the U.S. and the U.K. next year.

Later, Anne talks to POLITICO’s assembled “Power Panel” to chart their way through a fast-changing media and political landscape. She's joined by Jonathan Martin, POLITICO's senior political reporter in Washington, and Emilio Casalicchio, author of London Playbook PM. 

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