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Report: Rupert Murdoch preparing to step down as CEO of 21st Century Fox

Rupert Murdoch, CEO and controlling shareholder of media giant 21st Century Fox and head of News Corp., is reportedly preparing to step down from his post at Fox, sources told CNBC. Murdoch will hand over the title to his son James, though he will continue on in his position as executive chairman at Fox. Murdoch's other son, Lachlan, will take the position of co-executive chairman at the company.  

Read more at CNBC.