The cable news outlet only opened in 2013, but it has struggled to attract viewers.
Microsoft also announced that new mothers will be able to take up to 20 weeks of paid leave.
The FT says its circulation reached 720,000 last year, and digital subscribers accounted for 70% of the total.
The 84 year old Mr. Murdoch will remain at the company as executive chairman.
The Federal Communications Commission and Justice Department are still reviewing the deal.
Michael Bloomberg returns to the helm of Bloomberg, the data and financial news company he founded.
The U.S. cable company has made a verbal offer to buy larger rival Time Warner.
Weakness at Australian newspapers takes toll; shares fall 4% in after-hours trading.
Posts quarterly loss, cuts profit forecast, as entertainment unit adds to woes.
Reduces his stake to 4.5% after making a total return of 457% in 14 months.
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