Rupert Murdoch, the second-gen head of media empires 21st Century Fox and News Corp, has stepped back as chief executive of the former so his son James can step into the spotlight.
The US media tycoon will remain chairman of both companies. James has been working as co-chief operating officer at the movie studio since last year.
His brother, Lachlan, who was last year appointed non-executive co-chairman of 21st Century Fox, will now be an executive co-chairman. He will move from Sydney to Los Angeles to take up the role.