By Munsif Vengattil
(Reuters) - Twenty First Century Fox's Chief Executive Officer James Murdoch 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 media tycoon Rupert Murdoch, decided months ago that he will pursue an opportunity of his own after quitting Fox, a source familiar with the matter told Reuters on Wednesday.
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 Comcast Corp 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)