Chief executive Rupert Murdoch, 84, of 21st Century Fox, is planning to turn control of the media company over to his son James in what amounts to a changing of the guard for one of the most powerful programming and pay-TV brands.
The New York Times reported the transition Thursday, citing two anonymous sources "briefed on the plans."
According to the paper, the elder Murdoch will remain as executive chairman, while another son, Lachlan Murdoch, will relocate from Australia to Los Angeles to serve as co-executive chairman.
Meanwhile, longtime Fox COO Chase Carey will step down and will begin serving as an advisor to the company, according to the report, which described Carey as having an "integral role" in devising the succession plan.
The timing of this transition remains unclear. The changes are expected to be discussed at a board meeting next week.
The NYT report comes as another longtime programming chief, Showtime CEO Matthew Blank, announced he was turning over his job to company president David Nevins in January. Blank, who has served as the premium cable network's CEO for the last 20 years, will remain on chairman of Showtime Networks.
The announcement was made Thursday morning at a CBS Corp. board meeting in New York.
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