BBC News: Rupert Murdoch will from July 1, 2015 cease to be chief executive of 21st Century Fox and is handing that responsibility to his son James. He is also making his other son, Lachlan, executive co-chairman. But let’s be clear here, Murdoch Sr. remains chairman of both 21st Century Fox and the sister company, News Corp. The person “stepping down” is No. 2 exec Chase Carey. And although his day-to-day role is changing, he will, we are told, remain close to the center of power and a reassuring presence for certain investors.