Rupert Murdoch Is Stepping Down From Twenty-First Century Fox Inc

Rupert Murdoch is preparing to step down as CEO of Twenty-First Century Fox. According to a report from CNBC’s David Faber, his son James will take the reigns as the firm’s new chief executive in the near term.

Faber says that numerous sources close to the Murdoch family have confirmed the move, though no specific date for the announcement has been set. Management reordering could take place this year, or it could be held off until 2016.

Rupert Murdoch to remain executive chairman

Rupert Murdoch will remain the executive chairman at Fox, and his son Lachlan...