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Lachlan Murdoch to replace brother James as Fox CEO after Disney deal


By Munsif Vengattil

(Reuters) - Twenty First Century Fox's will leave the company and be succeeded by brother Lachlan once the company sells off its TV and film assets to Walt Disney Co.

James, younger son of the Rupert Murdoch, decided months ago that he will pursue an opportunity of his own after quitting Fox, a source familiar with the matter told on Wednesday.

Lachlan and will serve as co-chairmen of the new Fox, while will also take the role of

Fox agreed last year to sell the bulk of its film and TV assets to Walt Disney in a $52.4 billion deal. It expects to ask shareholders for approval of the transaction this summer.

The company has declined to comment on reports that is preparing a rival all-cash offer for the same Fox assets.

The new Fox will house assets including Fox News, Fox Business Network and sports cable networks, the company said.

currently serves as of Sky PLC, where he was earlier forced out for four years after a phone-hacking scandal.

(Reporting by in Bengaluru; Editing by and Saumyadeb Chakrabarty)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 23:16 IST