Rupert Murdoch Said to Hand Fox CEO Title to Son James

Rupert Murdoch is preparing to step down as chief executive officer of 21st Century Fox Inc. and hand the title to his son James, according to a person familiar with the matter, confirming a long-expected generational succession.

Murdoch, the company’s 84-year-old founder, will remain chairman, said the person, who asked not to be identified because the deliberations aren’t public. The changes will include the appointment of Murdoch’s older son, 43-year-old Lachlan, to the role of co-executive chairman.