Fox says transition will take effect July 1

June 16, 2015 8:48 PM

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Twenty-First Century Fox says Rupert Murdoch will turn over more power to his sons on July 1, as James Murdoch will become CEO and Lachlan Murdoch will become executive co-chairman of the company that day.

Sources with knowledge of the matter had said last Friday that those changes were coming, but the dates were not confirmed. Twenty-First Century Fox says its corporate functions and TV and film operations will jointly report to the younger Murdochs.

Also read: Rupert Murdoch seeks to add $14 billion crown jewel, British Sky, to Fox empire

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