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.

Read more here.

— Posted by Alexander Reed Kelly.

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