Rupert Murdoch, the 84-year old media baron, will hand over the chief executive reins at entertainment conglomerate Twenty-First Century Fox Inc to his 42-year-old son James. The elder Murdoch, whose media career spans the better part of a century, will take on the role of executive chairman. While New York-based James will have day-to-day control of the company.
This will be the first time that only Murdoch family members will occupy the top three positions at the company.
The wheels of this partnership were set in motion when Fox announced the brothers’ promotions – Lachlan to non-executive co-chairman of both Fox and publishing operation News Corp and James to co-chief operating officer of Fox together with Carey – in March 2014.
About Rupert Murdoch
- is an Australian American business magnate.
- He is the founder, chairman and CEO of global media holding company News Corporation, the world’s second-largest media conglomerate
- He formed the British broadcaster BSkyB in 1990, and during the 1990s expanded into Asian networks and South American television.
About First Century Fox Inc
- It is an American multinational mass media corporation
- founded by Rupert Murdoch in 1979.
- The formation of 21st Century Fox was officially finalized on June 28, 2013
- It formally began trading on the NASDAQ and Australian Securities Exchange on July 1, 2013
