Media mogul Rupert Murdoch, 84, is preparing to step down as CEO of 21st Century Fox, CNBC reported Thursday.
CNBC said an official announcement is pending, and cited “numerous sources close to the Murdoch family.” Murdoch’s son James will become the company’s executive co-chairman as the leadership transition takes place.
Murdoch is the top executive of both Fox and its sister company News Corp.
Fox is the sprawling media corporation that owns the 20th Century Fox film distributor and several U.S. cable channels, including Fox News.
News Corp., which primarily owns newspapers and other publishers, will apparently continue to be led by Murdoch and his other son Lachlan.
A spokesperson for News Corp. did not immediately return a request for comment.
