Rupert Murdoch, the 84-year-old mogul who built one of the world's largest media and entertainment empires, will step down as chief executive of 21st Century Fox and hand the position to his son James, according to a report from Fox News.
The elder Murdoch will remain with the company as executive chairman, while his eldest son Lachlan, 43, will become an executive co-chairman, essentially the No. 3 role. CNBC first reported the dynastic succession Thursday morning.
The New York-based company, which includes the 20th Century Fox film studio and the Fox TV network and Fox News Channel, said in a statement that "the matter of succession is on the agenda at our upcoming, regularly scheduled board meeting." The meeting is scheduled for next week.
Murdoch has long been expected to turn the leadership of Fox to his children, but the timing has always been in doubt. Lachlan and James, who is 42, have always been considered their father's most promising successors, having taken senior management roles. Murdoch has six children.
The Murdoch family owns about 30 percent of the stock of Fox and controls about 40 percent of its voting rights, ensuring that it can dictate its direction and management. It also controls a related company, News Corp., that was originally formed by Murdoch. Fox was split off from News Corp. in 2013 following the phone-hacking scandal that engulfed the company's British newspapers. News Corp. continues to own the slow-growing publishing assets; Fox owns the far more profitable entertainment and TV news assets.
In addition to the studio and TV channels, Fox owns the pan-Asian TV channel Star TV and a major stake in the European satellite TV company Sky TV.
Murdoch signaled the potential succession order in March 2014 when he named James as Fox's co-chief operating officer and Lachlan as nonexecutive co-chairman of News Corp. and 21st Century Fox.
Lachlan had left the family company for several years to manage media ventures of his own, primarily in Australia, where his father, now a naturalized U.S. citizen, began building his empire.
James has been more closely involved in the family's operations and was in charge of the British newspapers at the time of the hacking scandal in 2011. A 2012 report commissioned by Parliament said he "showed wilful ignorance of the extent of phone-hacking" and said he was "'guilty of an astonishing lack of curiosity" as reports about phone prying by New
The Washington Post
Fri Jun 12 2015
Rupert Murdoch will step down as chief executive of 21st Century Fox and hand the position to his son James.
Pulau Pinang anjur sambutan Hari Wesak lima hari bermula 18 Mei
Kerajaan Pulau Pinang akan menganjurkan sambutan Hari Wesak peringkat negeri selama lima hari di bangunan Persatuan Buddha Malaysia (MBA) di sini bermula 18 Mei ini.
AWANI Borneo [02/05/2024] - Tenaga boleh diperbaharui | Perhutanan, pelabuhan & SUKMA | Sambutan hangat
Laporan berita padat dan ringkas dari Borneo bersama Nickyson Nyambar;
#AWANIBorneo 2 Mei 2024
Tenaga boleh diperbaharui, Abang Jo komited kongsi pengalaman Sarawak di pentas global
Tiga RUU akan dibentang dalam sidang DUN Sarawak
LPPB Sabah terima 50,000 permohonan rumah mesra rakyat
#AWANIBorneo 2 Mei 2024
Tenaga boleh diperbaharui, Abang Jo komited kongsi pengalaman Sarawak di pentas global
Tiga RUU akan dibentang dalam sidang DUN Sarawak
LPPB Sabah terima 50,000 permohonan rumah mesra rakyat
DUN lama Sarawak jadi pusat seni ala Royal Albert Hall London
Sarawak memperuntukan RM250 juta untuk mengubah siuai bangunan DUN lama kepada pusat seni bertaraf dunia.
Bukan FAM, Tengku Zafrul mahu beri tumpuan kepada MITI
Tengku Zafrul hanya berminat memberikan tumpuan kepada MITI selepas namanya dikaitkan dengan jawatan presiden Persatuan Bolasepak Malaysia (FAM).
Enam lelaki ditahan bersama 2kg dadah bernilai RM120,000
Enam lelaki berusia antara 20 hingga 40 tahun ditahan bersama dua kilogram dadah dalam satu serbuan di sebuah rumah tidak bernombor di Kampung Indera Sabah, Tawau pada Rabu.
Pengumuman kenaikan gaji suntik semangat, ringankan beban
Penjawat awam di sekitar Kota Kinabalu menyifatkan pengumuman kenaikan gaji oleh Perdana Menteri sebagai sesuatu yang amat dinanti-nantikan dan membantu meringankan beban kewangan mereka.
Sarawak angkat inisiatif ke pentas global
Premier Sarawak, Tan Sri Abang Johari Tun Openg berkata, beliau akan menghadiri pelbagai forum di peringkat serantau dan global, bagi memastikan mesej ini dapat dijayakan.
Tiga RUU akan dibentang di DUN Sarawak
Kerajaan negeri Sarawak akan membentangkan tiga RUU berkaitan perhutanan, pelabuhan dan SUKMA 2024 akan dibentang pada sidang DUN Sarawak pada 6 Mei depan.
Anwar adakan perjumpaan tertutup bersama MB Kelantan
Perdana Menteri Datuk Seri Anwar Ibrahim hari ini mengadakan perjumpaan tertutup bersama Menteri Besar Kelantan Datuk Mohd Nassuruddin Daud untuk berbincang mengenai pembangunan negeri Kelantan.
LPPB Sabah terima 50,000 permohonan
Lembaga Pembangunan Perumahan dan Bandar (LPPB) Sabah menerima kira-kira 50 ribu permohonan Rumah Mesra Rakyat (RMR).
5 sebab Fox dijual kepada Disney
Disney umum pembelian aset filem dan televisyen dari studio 21st Century Fox yang dimiliki keluarga Murdoch.
Fox bakal jual aset filem dan televisyen kepada Disney
Disney telah bersetuju dengan perjanjian AS$52.4 billion bagi membeli aset filem dan TV dari 21st Century Fox.
Australia sekat 59 laman web kandungan cetak rompak
Perintah mahkamah ini dikeluarkan sempena kempen anti-cetak rompak oleh Creative Content Australia yang diketuai pelakon Bryan Brown pada Jumaat.