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[LiK]

http://www.cnbc.com/id/102730161

Rupert Murdoch, the 84-year-old CEO and controlling shareholder of 21st Century Fox, is preparing to step down as CEO of the media giant and hand that title to his son James, according to numerous sources close to the Murdoch family.

An announcement is expected in the near term, while it's unclear whether the reorganization would take place this year or at the start of 2016. Rupert Murdoch will continue to be the executive chairman of Fox, while his son Lachlan would also become an executive co-chairman of the company.

As part of the management reordering at Fox, its COO, Chase Carey, will step down from that role and take on a yet undefined role as an advisor at the company. Carey, who did not return a call for comment, was widely expected to exercise his right to an early release from his current contract, allowing him to leave the company, which he joined in 2009, at the end of this year. Now, sources tell me, he is likely to remain in some capacity through 2016.
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".

A Fox spokesperson said that the matter of succession is on the board of director's agenda at its next regularly scheduled meeting and declined further comment.
While no one doubts that the elder Mr. Murdoch will still have the final say at whatever goes on at Fox, Carey's stepping down as COO will leave the company without a layer of senior management outside the family for first time. For many years that role was filled ably by Peter Chernin, who departed as News Corp's COO in 2009 and was replaced by Carey, who is widely lauded by shareholders for his management of the company's cable networks.

James Murdoch, who gave up his job running BskyB after the U.K. hacking scandal engulfed the company four years ago, has been winning fans among Fox investor base for his work as co-COO. They tell me they believe James has matured as a leader, has a detailed knowledge of the company's operations and is the driving force behind the company expansion in digital distribution.. As one source who knows both James and Lachlan well described it, "James will have the primary role in running Fox while Lachlan will take on a broader strategic role from his co-chairman position.

Rupert Murdoch, who through the Murdoch Family Trust controls 39.4 percent of the voting shares at Fox, is not expected to change much of what he does day to day as chairman of both Fox and News Corp., but the change at Fox is clearly an acknowledgement that the next generation of Murdochs is ready to take its place in leading the media giant.

 

[Tripon]

Still keeping it in the family.

 

[ninjabat]

Hope the new guy doesn't try and buy WB too. As long as WB is safe, we cool Fox.

 

[Acorn]

Getting ready for sky bid 2.0

 

[Funky Papa]

Hell wasn't being run that well in his absence, I guess.

 

[shira]

Hope the new guy doesn't try and buy WB too. As long as WB is safe, we cool Fox.

While no one doubts that the elder Mr. Murdoch will still have the final say at whatever goes on at Fox

 

[Jarmel]

Meet the new boss

 

[Mindwipe]

Getting ready for sky bid 2.0

Very unlikely, especially after the Sky Italia/Deutschland/BSkyB merger. It requires way too much capital without enough upside in the moderate term.

I think News Corp feels that money is far better invested in emerging markets at this point which will deliver better ROI and a more diverse risk portfolio.

 

[Amentallica]

[Insert GAFism]

 

[Dishwalla]

Meet the new boss

Same as the old boss?

 

[NerdEyeBlind]

So THAT'S why Stewart quit the Daily Show! Impressive new gig

 

[Acorn]

Very unlikely, especially after the Sky Italia/Deutschland/BSkyB merger. It requires way too much capital without enough upside in the moderate term.

I think News Corp feels that money is far better invested in emerging markets at this point which will deliver better ROI and a more diverse risk portfolio.

Yeah sky is much much larger now but this is one of those things Rupe seemed to have his mind set on.

 

[BigDes]

Sepp Blatter goes to Murdoch International and Murdoch becomes the new head of FIFA. Just think

 

[Mindwipe]

Yeah sky is much much larger now but this is one of those things Rupe seemed to have his mind set on.

Sure, but he ain't in charge any more and James is much less sentimental about the UK.

 

[Busty]

In reality he's just giving his son more visibility and responsibility within the company and yet he himself will retain just as much control as he always had.

Apparently there's a feeling within Fox investors that if the 84 year old Rupert were to snuff it tomorrow several stockholders would either seek to sell off some chunks of the company or wrestle control and install their own non Murdoch hierarchy.

Hope the new guy doesn't try and buy WB too. As long as WB is safe, we cool Fox.

This.

Always this.

 

[GK86]

Official.

The Murdoch dynasty continues at 21st Century Fox as the company announced today that Rupert Murdoch's son, James Murdoch will take over as CEO beginning July 1. The elder Murdoch will join his other son Lachlan Murdoch as Co-Executive Chairman. Rupert announced he was stepping down as CEO less than a week ago. Placing James in charge isn't a surprise, he has been pushing Fox into the digital era with a heavy focus on streaming. In a joint statement the brothers said that they were, "humbled by the opportunity to lead, with our father and the talented team of executives at 21st Century Fox, this extraordinary company."

 

[terrisus]

Good ridda...

Rupert Murdoch's son, James Murdoch will take over

Oh.

 

[FullMetalx117]

He founded Fox. Might as well give it to his son.

 

[Grug]

His sons (particularly Lachlan) are supposedly appreciably less conservative than their old man.

James allegedly thinks Fox News in its current form is a shameful embarrassment.

There is hope for the future.

 

[Cyd0nia]

I just can't wait until his whole dynasty is dead and gone. Clan of immoral, corrupt, profiteering, propagandizing, democracy distorting snakes.

 

[Grug]

"James Murdoch, whose wife Kathryn Murdoch Hufschmid works for the Clinton Climate Initiative, has signaled disquiet at some of the more extreme positions taken by Fox and Mr Ailes.

"He finds Fox's politics and its demeanor and its bombastic nature and relentlessness to be embarrassing," said David Folkenflik, the media reporter for National Public Radio and author of the book Murdoch's World, shortly after the announcement."

http://www.smh.com.au/business/medi...-of-conservative-america-20150611-ghm3fh.html