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Rupert Murdoch appeared poised Thursday to hand over control of 21st Century Fox to his sons.
Murdoch, the studio’s 84-year-old chief executive, is expected to appoint his son James as the new CEO, while his older brother Lachlan will become executive chairman, serving in that capacity jointly with his father, CNBC reported.
It was unclear exactly when the transition would take place.
The issue of leadership succession is scheduled to be discussed at an upcoming meeting of the studio’s board of directors, according to a statement from Fox.
According to the media reports, which cited unnamed sources familiar with the plans, Chief Operating Officer Chase Carey will step aside but remain with the company as an adviser to the company.
The New York Times reported that Rupert Murdoch is not ill and still plans to provide “broad strategic oversight” of the company. Rupert and James Murdoch would be based in New York, while Lachlan Murdoch would work out of Los Angeles, the paper reported.
—City News Service