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

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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.

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Samantha Rollins
Samantha Rollins

Samantha Rollins is TheWeek.com's news editor. She has previously worked for The New York Times and TIME and is a graduate of Northwestern University's Medill School of Journalism.