BEVERLY HILLS, CA - MARCH 11: Lachlan Murdoch, Rupert Murdoch and James Murdoch attend The Television Academy's 23rd Hall Of Fame Induction Gala at Regent Beverly Wilshire Hotel on March 11, 2014 in Beverly Hills, California. ; Credit: Jason Kempin/Getty Images
The man who has been at the helm of 21st Century Fox since its founding is apparently planning to begin the company’s transfer of power to his sons.
CNBC broke the story Thursday, reporting that on the agenda at Fox’s next board meeting is the matter of succession in the company. Murdoch’s son James is expected to be appointed the next chief executive at 21st Century Fox, and his older brother, Lachlan, will have a larger role as executive chairman. It is believed that the elder Murdoch will remain an active part of the company as executive co-chairman, alongside Lachlan.
Fox’s chief operating officer, Chase Carey, is also expected to hand over operational control of Fox but still stay on in an advisory role through 2016. This may not sit well with some investors, who have long enjoyed having someone outside the Murdoch family in a senior role at the company.
21st Century Fox, known simply as Fox, is one of two companies created when Fox’s parent company, News Corporation, spun off its publishing arms in 2013. Included in 21st Century Fox’s holdings is Fox Entertainment Group, which owns the film studio 20th Century Fox and the Fox television network.
Does this pending transfer of power signal big changes coming to FOX? Do you think Murdoch’s sons will do business significantly different from their father or will they simply continue his legacy?
Guests:
Steve Hewlett, Presenter of "The Media Show" on BBC Radio 4 and columnist for "The Guardian"
Cynthia Littleton, Television Editor, Variety