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Rupert Murdoch plans to step down as 21st Century Fox CEO

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Rupert Murdoch plans to step down as 21st Century Fox CEO

Post by Admin on Thu Jun 11, 2015 1:16 pm

Rupert Murdoch, one of the world's most influential media executives, is preparing to step down as CEO of 21st Century Fox, according to three people with knowledge of the matter.

Murdoch, 84, is expected to hand over responsibility for the media empire to his sons James and Lachlan.

James will be CEO; Lachlan will be co-executive chairman.

"He really wants his boys to run the company together," one of the sources close to Murdoch said.

Another source described the transition as a "title change," with the elder Murdoch still having the final say as executive chairman. "He will be actively involved," the source said.

But it's a title change decades in the making with wide-reaching consequences for the media industry...............

Read further at link: money.cnn.com

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