CNBC reported Thursday morning that sources close to Rupert Murdoch indicated he was planning on stepping down as chair of 21st Century Fox and hand over control of the media juggernaut to his two sons.
While James Murdoch would take over the day to day management of Fox, he will work in tandem with his 43 year old brother Lachlan and his father. Sources who have spoken with the Murdochs in recent weeks tell me they have shared their plans openly and describe the Murdoch brothers new roles as a “partnership”.
“James will have the primary role in running Fox while Lachlan will take on a broader strategic role from his co-chairman position,” one source said.
The reorganization will see the departure of COO Chase Carey, a move that will “leave the company without a layer of senior management outside the family for first time.”
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