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Rupert Murdoch to step down as 21st Century Fox CEO

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Rupert Murdoch is reportedly making plans to turn over the reins of 21st Century Fox, his sprawling media and entertainment empire, to his son James.

The company confirmed succession plans are on the agenda, and an announcement could come later this year or early next year, according to Fox Business.

The 84-year-old would stay on as executive chairman.

Reaad more from Fox Business.

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