Murdoch Set to Step Down as Fox CEO

Rupert Murdoch, CEO and main shareholder of the 21st Century Fox media conglomerate, is preparing to step down from his role at the head of the company, according to sources close to his family. The CEO title would go to his son, James, while the elder Murdoch would remain executive chairman of Fox, with son Lachlan as a co-chairman. The transition could take place in 2016 or as soon as later this year, and would involve shuffling several other roles at the company. A Fox spokesperson told CNBC that the matter of succession is on the agenda for the next board of directors meeting, but did not confirm the rumors.