Rupert Murdoch, the controversial media mogul who reshaped the political landscape in American and abroad, making billions in the process, is stepping down from his position as CEO of 21st Century Fox. The 84-year-old, who also brought us The Simpsons, will surrender his role to his son James, according to a report from CNBC. Murdoch's other son Lachlan, will take an executive co-chairman role along with his father. James Murdoch will run the day-to-day operations of the far-flung Fox empire.
James Murdoch, 42, used to run BSkyB, the ubiquitous European satellite broadcast TV network that was rebranded Sky after buying its sister stations in Italy and Germany. He became co-COO of Fox after the hacking scandal that caused Fox -- and James Murdoch himself, whom a parliamentary report said showed "willful ignorance" about the hacking -- major headaches in 2011-12. James Murdoch grew up in New York and attended Harvard University. The Murdoch family owns nearly 40% of the 21st Century Fox.
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