Rupert Murdoch will hand over the CEO job at Twenty-First Century Fox Inc. to his son, James, while his other son, Lachlan, will become executive co-chairman, it has emerged. Murdoch, 84, one of the world's most powerful media magnates, will become executive chairman and remain deeply involved in the company, while his sons are to run the business in a partnership. The moves are the next step in the gradual handover of the company to the next generation of Murdochs and come just three short years after James Murdoch resigned as chairman of News International in the wake of the UK phone-hacking scandal.
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