Rupert Murdoch to Step Down as Chief of Twenty-First Century Fox
The media mogul will step down as chief executive of his global film and television empire. His youngest son, James, will assume control.
Rupert Murdoch. (David Shankbone / CC BY 2.0)
The media mogul will step down as chief executive of Twenty-First Century Fox Inc., his global film and television empire. His youngest son, James, will assume control.
The Guardian reports:
Murdoch is expected to continue as executive chairman of the company with his eldest son Lachlan Murdoch becoming an executive co-chairman.
The restructuring marks the first time the three Murdochs will run the global film and television business without a layer of senior management outside the family.
The appointments will not necessarily clarify which of Murdoch’s sons eventually takes over the running of the global media business although the 84-year-old’s decision to stand down as chief executive suggests that the issue of succession has become more pressing.
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The declaration by British MPs on Tuesday that Rupert Murdoch exercised "willfull blindness" about phone hacking at The News of the World and is "not a fit person" to run a major international company has prompted the watchdog group Citizens for Responsibility and Ethics in Washington to ask the FCC to revoke the 27 Fox broadcast licenses that News Corp. holds in the U.S.
Londoners will get the chance to say bon voyage to James Murdoch as he flees his embattled role as chairman of the crisis-ridden News International to oversee News Corp.’s television operations from a Manhattan office.
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This brief history of Rupert Murdoch by Bruce Page, author of the book "The Murdoch Archipelago," originally ran in 2009 as a straightforward antidote to Michael Wolff's "sycophantic" (in Page's view) 2008 book on the international media mogul, "The Man Who Owns the News." Pictured above, Rupert's father, Sir Keith Murdoch. (more)
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