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it's confirmed billionaire media tycoon rupert murdoch is giving up the day to day running of twenty first century fox the company announced tuesday but there is a twist involving sons james and lachlan along with his long time lieutenant chase carry reuters media correspondent jen sabo is on the story their two big surprises one is that chase is going to stay on through his contract through june twenty sixteen so that will appease investors who are nervous about , and the second surprising thing is that lachlan is going to be also doing day to day , so all of the %HESITATION all the operations u. t. v. and film divisions are going to be jointly reporting to james analog , james the younger of the two brothers moved into the c. e. o. spot as of july first and lachlan gets the executive cochairman role the confirmation comes a few days after leaks of the management shift set off a media frenzy from coast to coast but the eighty four year old isn't going far murdock who took a small newspaper operation in australia and built it into the entertainment and news conglomerate that includes fox and news corp will share that executive co chairman title with his eldest son so daddy dear will be close by to help guide his sons while providing some comfort to investors still worried that the murdoch boys aren't ready for primetime