Major Shakeup At Fox News Just Announced
This major player just announced he's stepping down and Fox News may undergo some major changes...
(NewsMax) Rupert Murdoch, the 84-year-old chief executive of 21st Century Fox Inc, is preparing to step down and name his son James as successor at the entertainment conglomerate behind Fox News and the studio that makes "X-Men" movies, CNBC reported Thursday.
The elder Murdoch would stay on as chairman, according to CNBC. James Murdoch, 42, would work in tandem with his 43-year-old brother Lachlan in a "partnership," the CNBC report said.
One of two sources described the transition to CNNMoney as a "title change," with Rupert Murdoch still having the final say in whatever goes on at Fox. Another source told the Hollywood Reporter that Rupert Murdoch wasn't "going anywhere."
"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," CNBC reported...
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(NewsMax) Rupert Murdoch, the 84-year-old chief executive of 21st Century Fox Inc, is preparing to step down and name his son James as successor at the entertainment conglomerate behind Fox News and the studio that makes "X-Men" movies, CNBC reported Thursday.
The elder Murdoch would stay on as chairman, according to CNBC. James Murdoch, 42, would work in tandem with his 43-year-old brother Lachlan in a "partnership," the CNBC report said.
One of two sources described the transition to CNNMoney as a "title change," with Rupert Murdoch still having the final say in whatever goes on at Fox. Another source told the Hollywood Reporter that Rupert Murdoch wasn't "going anywhere."
"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," CNBC reported...
Read The Full Story