Rupert Murdoch launched Fox News Channel in 1996, and the anchors and hosts of some of its most popular programs will now have a permanent reminder.

Fox News on Wednesday renamed its “Studio M” in honor of the elder Murdoch, who continues to work as chairman of parent company Fox Corp. The 3,675-square-foot space, previously known as “Studio F,” hosts some of the cable-news network’s most popular programs, including “Fox & Friends,” “Outnumbered” and “The Five,” as well as its Election Night coverage. A plaque designating the new name was unveiled in a small, surprise ceremony on Wednesday afternoon with both Rupert and Lachlan Murdoch, the CEO of Fox Corp.

“His legacy in revolutionizing the entire media landscape and creating the Fox News Channel will continue to have enduring significance for all who work, visit and broadcast from Studio M,” Fox News Media CEO Suzanne Scott said in a note to staffers.

The space was originally utilized as a FedEx Kinkos store and a Charles Schwab branch on the ground level of the midtown Manhattan building that houses both Fox Corp. and its sister company, News Corp. Fox invested nearly $30 million in 2016 to build a multi-level studio that is 29 feet high with a 1,750-square-foot balcony and “video chandelier” that can display alerts, video feeds and social media happenings. Replete with walls and columns covered in LED screens, it remains the largest production facility at Fox News. The studio was first utilized on the Sunday before the 2016 election by “Fox News Sunday With Chris Wallace.”