It’s the end of an era. Thursday morning, sources allegedly close to the Murdoch family revealed to CNBC that Rupert Murdoch, the 84-year-old CEO of 21st Century Fox, is stepping down from his position and giving the title to his son, James. An official announcement has not yet been made. Sources are not completely sure if this succession would take place this year or in 2016. However, the sources did reveal that Rupert Murdoch will continue to serve as the executive chairman of Fox, and his son, Lachlan, would become the executive co-chair.
Also changing – COO Chase Carey is going to step down from his current position. He will be taking on a yet-to-be-clarified role as an adviser for Fox. Sources expected Carey to leave the company this year, but now they suspect he will be involved with Fox until at least 2016.
At Fox, a spokesperson said that the company will discuss this agenda at its next meeting, and no additional comments were made.