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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...............
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