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Rupert Murdoch ‘out at Fox’

Rupert Murdoch is reportedly preparing to step down as CEO of 21st Century Fox, while chief operating officer Chase Carey is also set to leave.

Rupert Murdoch

Rupert Murdoch: to be succeeded by his son James

Murdoch, 84, will hand over control to his son James, CNBC reported, citing numerous sources close to the Murdoch family.

Carey, one of Murdoch’s closest lieutenants, is also poised to step down, CNBC claims – a development expected by year-end, according to a C21 source close to the matter.

An official announcement is expected soon, although when exactly the shake-up will happen is unknown.

“The matter of succession is on the agenda at our upcoming, regularly scheduled board meeting,” a Fox spokesman said in a statement, without giving details.

James and Lachlan Murdoch were elevated in their father’s media empire in March last year when they became non-exec co-chairman and co-chief operating officer respectively.

Chase Carey

Chase Carey: expected to
leave by end of the year

This came after James was forced to resign as chairman of News International and then European satcaster BSkyB (now Sky) in 2012 amidst the UK phone hacking scandal, which had huge repercussions for the Murdoch group.

More recently, Rupert Murdoch orchestrated the joint venture with Apollo Global Management that brought Shine Group, Core Media Group and Endemol under one roof to create Endemol Shine Group.

However, he had less success in his bid to acquire Time Warner, when his offer of US$80bn was rejected last July.

21st Century Fox houses the movie, TV and other entertainment properties in the media mogul’s empire.

These include Fox Broadcasting, 20th Century Fox Film & Television, Fox Sports, Fox International Channels, Fox News Channel, Fox Business Network, FX, National Geographic Channels, Endemol Shine Group, Fox Television Stations and Sky in the UK, Italy and Germany.

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