Rupert Murdoch stepping down from 21st Century Fox

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In a Tweet Frriday, May 17, Rupert Murdock says Facebook may face same fate as his ill-fated venture MySpace.

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NEW YORK  — Rupert Murdoch, one of the world’s most influential media executives, is planning to step down as CEO of 21st Century Fox, according to a source with knowledge of the matter.

Murdoch, 84, is expected to hand over the reins to the media empire to his son James, but he will remain executive chairman.

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