Rupert Murdoch Stepping Down, Chase Carey to Assume Advisor Role11 Jun, 2015 By: Erik Gruenwedel
Rupert Murdoch, the 84-year-old CEO and founder of media conglomerate 21st Century Fox, reportedly is set to transfer the title to his son James Murdoch, with other son Lachlan to become co-chairman.
Chase Carey, current president and COO, would step down and assume an advisory role going forward. Carey signed a two-year contract extension last June.
21st Century Fox properties include the Fox News Channel, Fox Sports and 20th Century Fox, as well as 20th Century Fox Home Entertainment.
Carey’s probable departure is considered “unfortunate” by analyst Michael Nathanson, who said Carey’s exit has been speculated ever since receiving just a two-year contract extension.
While no official announcement has been made, the 21st Century board of directors is expected to address the changes next week, according to CNN.