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Rupert Murdoch, at 84, is finally preparing to relinquish control of one part of his media empire.
Murdoch is preparing to step down as CEO of 21st Century Fox, the crown jewel of his empire, according to a report Thursday from CNBC and CNN Money.
His son, James, is said to be taking over as CEO in his place. The Murdoch family is notoriously competitive, and son Lachlan and daughter Elisabeth — named for her powerful grandmother — are also intensely involved in the media business and started their careers under their father's wing.
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