Rupert Murdoch preparing to step down as Fox CEO - CNBC

REUTERS - Rupert Murdoch, the 84-year old chief executive of Twenty-First Century Fox Inc, is preparing to step down and name his son James as successor, CNBC reported on Thursday, citing sources close to the Murdoch family.

It was unclear whether the reorganization would take place this year or at the start of 2016, CNBC said. (http://cnb.cx/1FUTGvg)

The company was not immediately available for comment.

Some key investors have been warming to the idea that James has the ability to run Fox.

    In interviews, some top investors who know James, and other people familiar with the company, describe him as curious and a risk taker like his father. But they also cite two big differences that they like: James is less sentimental about certain assets than his father and he is more enthusiastic about courting shareholders.

"James is a giant!" said Saudi Arabia's Prince Alwaleed bin Talal, a Murdoch family ally and one of Fox's top shareholders with a 6.6 percent voting stake, in a recent interview.

Fox shares were down 0.27 percent at $32.89, while News Corp shares were little changed at $14.64 in early trading.

(Reporting by Supantha Mukherjee in Bengaluru; Writing by Nick Zieminski; Editing by Saumyadeb Chakrabarty and Howard Goller)