Rupert Murdoch May Be Stepping Down As Fox CEO
Sources told CNBC's David Faber the legendary and controversial media magnate will hand the reins of Fox to his son, James Murdoch.By Cliff Judy | June 11, 2015
Rupert Murdoch will reportedly step down from his position as CEO of Twenty-First Century Fox.
The 84-year-old media magnate will hand his empire off to his son James, according to sources who spoke to CNBC's David Faber. If the sources' information is reliable, this would end the reign of one of the most legendary and controversial media executives in history. (Video via The Wall Street Journal)
Murdoch took over Australia's "The News" and "Sunday Mail" in his early 20's after the death of his father and quickly grew a reputation as a shrewd, calculating businessman.