Rupert Murdoch, the 84-year-old chief executive officer and controlling shareholder of 21st Century Fox, is preparing to step down as CEO of the media giant and hand that title to his son James, according to numerous sources close to the Murdoch family.
An announcement is expected in the near term, while it’s unclear whether the reorganization would take place this year or at the start of 2016. Rupert Murdoch will continue to be the executive chairman of Fox, while his son Lachlan would also become an executive co-chairman of the company.
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This article originally appeared on Recode.net.