the company is saying, yes, james murdoch will be the ceo of fox on july 1. alix: we do want to get straight to top stories. yahoo! ceo marissa mayer is says that the company will proceed with the alibaba spinoff. myers spoke earlier at the bloomberg technology conference. we are moving forward with the plan, based on the

rupert murdoch and lachlan murdoch coexecutive chairman.ch is the new chief executive officer. that happens july fist 1st, back to you guys. david: thank thank you, jo ling. new details on the prison escape and the convicted killers are still on the run after some days. more than 800 law enforcement officers looking for fugitives with roadblocks still in place. fox's rick leventhal live at clinton correctional facility in dannemora, new york. >> like loy hood that david sweat and richard matt are no longer in the area. there are still more than 800 local, state and federal authorities who continue to search on this day 11. restrictions eased roadblocks. schools have reopened. discussions are ongoing moving some law enforcement resources elsewhere. we spoke to clinton county sheriff that said the trail has gone cold. wet weather ham period some. search efforts. he is 49% certain they're still in the area and 51% certain they found a way out of town. >> with that elaborate and detailed of a plan, they had to have something bigger and better o

a tone of trust with major investors outside the murdoch family.upert murdoch is saying he trusts his own judgment and his own d.n.a. to ensure the company's financial legacy for the years ahead. >> woodruff: so what are-- you mentioned digital. what are the sons' interests? how do you see them taking the-- what direction do you see them taking the company in? >> well, there are some very interesting investments and projects that i think you can look to for providing some guidance, even as the landscape in media shifts so quickly and significantly from year to year that it's hard to predict. james murdoch was said to be significantly involved in the decision by 21st century fox to invest a decent chunk of change in vice the multiplatform, multioutlet entity that its own kind of pirate entity run by shane smith in new york. that's not something you would have thought of fox news as investing in kind of outfit. there has been a significant dus dis trust and ill well between the murderoks' sons and ales. i don't think you'll see ales sidelined immedia

more murdochs to keep the twitter people happy. does it mean that james murdoch is the chosen one?k: pretty much. he is going to be running the company on a day-to-day basis. having said that, his brother is going to be his boss nominally. james is going to be doing things on a day-to-day basis. francine: he has had to overcome some setbacks. mark: he has. people will remember the hacking scandal the closing down of the news of the world. murdoch thought maybe they would buy all of sky, and they didn't. and they thought about time warner, and they didn't. francine: mark, thank you so much. we are back in two. ♪ with xfinity from comcast you can manage your account anytime, anywhere on any device. just sign into my account to pay bills manage service appointments and find answers to your questions. you can even check your connection status on your phone. now it's easier than ever to manage your account. get started at xfinity.com/myaccount francine: welcome back to "the pulse" live from bloomberg's european headquarters in london. twitter ceo dick costolo is stepping down. jack dors

over the past several years, james murdoch, the son of rupert murdoch, was implicated in the phone hackingal in the u.k.. then called into -- it seemed as though he was back and went around this time last year or last spring or so. he was named the co-chief operating officer with his other brother. way potentially paved the for this. executive chase carey has also been someone who has talked about to take over the role. speculation up until now. it looks like now, that is more clearly the succession plan for murdoch. we do not know the timing yet of him handing over the reins. olivia: james murdoch, currently the co-coo along with chase carey, is ceo and has now been officially tapped. that is the plan. we do not know when. , stories they're interested in, we looked at the store is on the bloomberg terminal this morning and here is one we like. senatormon is taking on elizabeth warren once again. speaking at an event in chicago yesterday, jamie dimon says, i do not know is she fully understands the global banking system. these two have had an .crimonious public relationship the senator eli

his title to james murdoch.ernational monetary fund has key differences from greece. bremmer,peak with ian the founder of the eurasia group. the united states is now the biggest energy producer in the world. we keep most of it for ourselves. laws and regulations severely restrict how much oil the u.s. can export. francisco blotched joins us now. francisco, great to have you with us. explain your thesis. when and what will cause the change in u.s. regulations to allow crude exports? francisco: we think there is in the tonehange and debate in washington dc. a year ago, no one wanted to touch the topic. today, we are finding a lot of around the topic. i think there is also a lot of people in the administration who have a greater understanding of the crude export ban. there is a debate going on. a year ago, there was not a debate. think about this. there is an issue around foreign policy. allowing crude exports will tighten relationships between the u.s. and key allies. i think allowing crude exports is also an issu

roger ailes will continue to report to murdoch.-first century fox's parent company of the fox business network. shares of gap rising in premarket trading after the company said it will close 175 namesake stores in north america. gap making big plans to cut 250 jobs at headquarters. ceo says the moves are designed to ensure the chain is the right size for a changing market. this only gap with 500 stores in north america down from 72013 as the retailer has continually tried to turn things around. a rise in not planning the "huffington post." this after the company agreed to pay $4.4 billion to acquire aol. verizon and dso said the company likes all of aol's portfolio and wants to keep it together. coming up chicago blackhawks become the latest sports dynasty winning the stanley cup. we will have the highlights. investors waiting on the next move in the greek debt drama. dow futures coming off the lows of the morning to 83 points. s&p down, nasdaq futures down 25. you are watching "fbn:am," your first look at morning market and breaki

fox sayst century shareholder rupert murdoch is stepping down.he 84-year-old would be replaced as the chief executive by his son, james, and his son would he come -- his son laughlin would become executive cochair of the company. rupert murdoch would continue to chairman orxecutive no word yet on when the reorganization would take place. another sign of strength in the labor market. stayed below for a 14th straight week. holding onto workers in anticipation of a pickup of demand. alix: americans started shopping again last month. retail sales rose 1.2% in may, matching at dictations. dealers, winners, auto you are seeing a rise today. encouraged bybe gas prices that are still lower than they were a year ago. john boehner says the asian trade deal is about more than just commerce. he called the agreement delay for the u.s. to counter economic influence. two days of debate on economic trade paired one bill would give president obama fast-track authority. republicans back to the measure while most democrats are opposed. he says he tried to compromis

either way, murdoch, that is the elder murdoch will continue to be the executive chairman of fox andchlan is going to take over as the executive co-chairman of the company. he's currently nonexecutive co-chairman. but that's an important distinction. ceo chase carey is going to step down from that role, he'll take an advisory role with the company. sources tell me. he is likely to remain at the company in some capacity, perhaps through 2016. but james murdoch going to be taking over the day-to-day management of fox. he will work in tandem with his brother, lachlan who is one year older at 43 and his father who is 84. fox spokesperson said the matter of succession at the company is on the board of directors' agenda at the next regularly scheduled meeting. the meeting is taking place next week. they declined to comment further. important to point out that mr. carey's stepping down as ceo is going to leave the company without a layer of senior management outside the family. for many years the role was filled by peter churnen, he departed in 2009 as coo. he was replaced by mr. carey. who

heir apparent to the murdoch dynasty and high-flying uber.illette is with the new york stock exchange and has that and more. good morning. murdoch now 84 years old is handing over control of 21st century fox to his sons. james murdoch will become ceo and lachlan, the co-chairman. murdoch's news holdings include the wall street journalist "new york post," "the times of london," and 21st century fox film. murdoch will remain as co-executive chairman. >>> there's also been a change at the top of the giant twitter. dick costello is stepping down. co-founder jack dorsey is taking over on an interim basis. this morning he said he anticipates no immediate changes in strategy or direction. >>> encouraging news on retail sales sent stocks on wall street higher. americans spend more on autos clothing materials. the dow rose 38 points the s&p was 3 points higher and the nasdaq gained 5 points. >>> net neutrality will take place today as scheduled. a federal court ruled against a block in a suit by@, at&t, verizon, and others. >>> whole foods says it wil

you have long been an investor and supporter of the murdochs alan nunnelee -- murdoch family and the-- supporter of james as a successor. prince al-waleed: i'm in discussions with james and rupert since more than a decade it i believe the latest move by mr. rupert murdoch by handing over the reins to james murdoch and being cochairman with his son, i think it is very good to have. i fully supported. use ago, i did nominate and ask for mr. murdoch to be in that position. i'm thankful it is happening right now. erik: how is fox going to be different under james as ceo than it has been under his father? prince al-waleed: remember that mr. rupert was still the cochairman. no doubt that mr. james murdoch will be injecting a new blood into the system of fox -- ecosystem of fox. james is young and very much tech savvy. i think with what is going on and integration of technology into the media arena, he will be playing a big role in that aspect of fox. olivia: would you like to see fox taken of the another run at time warner? prince al-waleed: i think the last time of the shareholders of tim

pimm: james murdoch.illful ignorance was the term jim related toe the phone hacking scandal in the united kingdom. is that aarti done and dusted? much done andy dusted for this american-based company. do think that the good thing about the transition is that he has had time to put that behind him. they split the publishing stuff off. andver embarrassing troubling the whole incident may have been, it did not do anything to compare -- impair his ability with investors. he had a good track record here? he has been at bskyb. he knows how to run a big business. thepublishing stuff publishing stuff was unfortunate, but people remember more what he did at bskyb and what he has done within star. pimm: this has been asia, right? >> india has been a great business. i am cautious for a lot of reasons to do with the secular changes of tv, but if you're going to be bullish on fox, you love what they are doing in india with star and he has been front and center of developing that aspect. children havethe voiced real th

james murdoch will become ceo and lack lan the executive co-chairman. fox and the news holdings include the wall street journalist, "new york post," "the times of london," and 21st century fox film. murdoch will remain as co-executive chairman. >>> there's also been a change at the top of the giant twitter. ceo dick costello is stepping down. co-founder jack dorsey is taking over on an interim basis. this morning he said he anticipates no immediate changes in strategy or direction. >>> encouraging news on retail sales sent stocks on wall street higher. americans spent more on autos, building materials, and clothing in may. the dow rose nearly 39 points the s&p was 3 points higher and the nasdaq gained 5 points. >>> net neutrality rules agreed to by the fcc last february will take effect today as scheduled. a federal court ruled against a block in a suit by at&t, verizon, and others. the rules are designed to prevent service providers like verizon and at&t from creating a fast lane for internet users. >>> whole foods says it will call its new chain of sm

in newspapers, television, and movies and rupert murdoch is now taking a step back. up his title as chief executive of 21st century fox and he will hand over his job to his son james murdoch. still drive strategy. the international team negotiating with greece has left brussels after failing to reach a debt deal. there are key differences and now the ball is in greece's head of the european union is accusing greece of playing games with its future in the eurozone. whene day is coming someone says that the game is over. think that the upcoming euro group is really crucial. it should be decisive. have no more time. i'm absolutely sure. >> the greek prime minister is in brussels to name beaning with

rupert murdoch will give up his position as the ceo of when he first murdoch is 84 years old. a new chief executive will be rupert murdoch's son, james. no word on when this might happen. theolder brother would take role of co-executive chairman. the matter of succession is on the agenda at an upcoming board meeting. that is a look at the top stories we are following at this hour. matt: a changing of the guard at fox. james murdoch replacing his father at a time to be determined. we are joined now. let me ask worst, when do you think this will happen? sometime in expect the next year because chase carey who has been running a business and for investors, is a really important character. very important person within the business, he is due to stay on until 2016. it is not clear exactly when this might happen. mark: talk to me about the timing of this, does this come as a surprise? anusha: i think the timing could be surprising, that it has been long flagged. they did elevate the tucson slashed year. the succession has been out there, it has been a succession of one. timing.teres

local news on "cbs this morning," more on rupert murdoch's sons. we'll talk with murdoch's photographer michael wolfe. >>> plus, in our "morning rounds," we'll show you how technology is helping soccer players avoid serious concussions. >>> and speaking of soccer, a preview of tonight's matchup in the women's world cup between team usa and sweden. that's the "cbs morning news" for this friday. i'm alison harmelin. have a great day. -- captions by vitac -- www.vitac.com

let's talk about succession planning amongst the murdoch clan -- is this the end of rupert murdoch? feel there is an inevitability. mark: people have been saying that -- this is the start of something new, the beginning of a succession an attempt to build his legacy. anna: what does it tell us about james? is he the chosen one? mark: i would say so. that would be the ultimate take away from this. after some setbacks, he has managed to come back. now he needs to prove that he is not just there because he is a murdoch but that he can do things. he has already been building a lot of confidence with shareholders. anna: you mentioned some of the setbacks he has had to overcome. he has been tested on a number of fronts. mark: obviously news corp., all the hackings. at that stage, there was one point where there was a takeover. more recently, there was the situation with time warner and $80 billion bid which ultimately dissolved. they are all setbacks and they could all rise above them. anna: latest that leave letterman? >> technically he is still james's boss. he walked away in 2005 and n

speculation as to who was going to succeed rupert murdoch. some might say it is a little too late. maybe murdoch should've given the opportunity to either james or lackland or elizabeth to set fox's strategy early in the game. there is a lot going back with the phone scandal. he had to separate the two companies which was 20th century fox and the new news corp.. olivia: it is amazing how they bounced back from the phone scandal. they thought it was the end of the road, but clearly not the case. some people say it is too late, but others say that as long as rupert's life, he will effectively run the company. what will this mean for strategy? will fox make another run at trying to buy time warner? erik: we will talk to the saudi prince about fox. and we will talk about in other big company -- twitter. i want to show you what has been happening with twitter. a tough year. sluggish user growth and stock

rupert murdoch is expected to step down. the 84-year-old ceo is expected to give the title to his son james. rupert murdoch will continue as executive chairman. if you plan on sipping a soda in san francisco, it could be the first to have health warnings on soda ads, the consumption of sugary drinks is responsible for high rates of obesity and diabetes. >>> the non-profit educational education just launched free online step for students studying for the entrance exam. the official s.a.t. practice is created in cooperation with the board. sal khan, thanks for being here today. >> great to be here. >> for those who aren't familiar, what is the khan

according to numerous sources close to the murdoch family.ected in the near term. while it's unclear whether the reorganization would take place this year or at the start of 2016, mr. murdoch will continue to be the chairman while his son lake lynn would become -- part of the management reordering at fox under which its current ceo will step down from that role and turkey on a yet undwid role as an adviser. mr. carey was widely expected to exercise an option allowing him to leave the company at the end of this year. now sources tell me he is likely to remain in some capacity through 2016. while james murdoch would take over the day-to-day management of fox, he would work in tandem with his brother and hits father. sources who have spoken with the murdochs in recent weeks tell me they have shared their plans openly and described the new roles as a, quote, partnership. a fox spokesperson said the matter of succession is on the board of directors agenda at the next regularly scheduled meeting and decline further comment. that meeting is expected

there are reports rupert murdoch may step down as ceo of the company. the timing is not clear but it looks like, according to these reports, that james murdoch, his son, would be the next in line, versus some of the other folks talked about. i see now headline the 21st century fox is commenting in an e-mail that the board would consider a session and the management will be on the next agenda. it looks like the spokes person is not commenting beyond that. we are a lot of effect on stocks. you can see it on my screen behind me. this pairownward on we will bring you more details as we have them and on any confirmation here for what is happening with the timing, if it will be with the future structure at 21st century. to look like at this time. if the stocks move more, we will let you know that as well. question is ultimately

>>> cnbc's david faber reporting rupert murdoch is going to step down and hand the reins over to his son, james. david faber will have more in the 2:00 p.m. eastern hour of "power lunch." stay tuned for that. >>> meantime "vanity fair's" sara ellison also knows the move on the dynasty inside and out. what do you make of this pick particular move? >> it's one we've all sort of been watching for some time. last spring rupert murdoch made the announcement that his sons were both going to take on bigger roles in the company. this is one of these things people have been looking for for a while but the question is how is this going to play out. you have two brothers who have a very long history. each of them have had -- they've worked within the company. they've been sort of elevated by their father before only two have failed in their respective positions. so in the sort term you still have rupert at the company but longer term you sort of have to wonder how these two are going to work their power structure out. >> what do you think the answer to that is sara? what's the word on the stree

rupert murdoch will take on the role of coexecutive chair along with the elder son lockley murdoch. their futures as they expect movement on the sidelines. we expect weakness for the broader averages here. in washington a major federal union says the cybertheft of employee information is more damaging than first appeared. the american federation of government employees as personal data and social security numbers for every federal employee was lost. every federal employee lost. the white house is up to 4 million current and former employees are affected by the december breach. new u.s. internet traffic regulations in effect. sec chairman tom wheeler saying this is a win for consumers and innovators because it gives the agency enforcement powers to keep the internet fast, fair and open. the golden state warriors even the series in the nba finals. stephon curry had 22 points in the game for a win the warriors. final score 103 to 82. twitter ceo of flying the coop. dick costolo announcing his departure yesterday over her concerns over the lack of user growth. check dorsey will take ove

rupert murdoch is stepping down. anchor: his son james will take over and his other son will become executive cochairman. anchor: rupert murdoch started with a single newspaper and built a vast empire. it has been embroiled in numerous scandals over the year. he will remain chairman of the company. anchor: more trouble for the fi fa president. anchor: the european parliament is demanding he step down immediately and make way for an interim leader. lawmakers voted for the resolution but he rejected the call to quit. anchor: three astronauts have returned to earth after a 200 day mission on the international space station. they made a hard and quick landing in the steps of central kazakhstan. anchor: the italian astronaut

the elder murdoch will remain with laughlin murdoch. we'll get a full report from jo ling kent. >>> the entertainment news, cbs shares falling as it announces its own shake-up at showtime. matt blank, a friend of this program will step down as ceo. he will remain chairman. and he passes the torch to the current president david nevins, ceo on january 1st of next year. >>> now to the government throwing billions of dollars, remember fannie mae and aig, just to keep them from going under, the saga is far from over. fox business network senior correspondent charlie gasparino. >> this is going to be a huge story in a couple of weeks particularly if hank greenberg wins this case. suing the u.s. government over the legality of the aig bill, essentially a delusion to shareholders, the government, the federal government diluting shareholders like mr. greenberg and others. liz: he was the largest shareholder. >> through an entity called cb star. he said he was -- the government illegally took his shareholder value and basically misappropriated it

rupert murdoch announces he will resign. we will let you know who's taking over. >>> hello, i'm natalie allen. welcome to our viewers of the united states and around the world. you're watching cnn newsroom. >>> our top story is from south korea where officials are are racing to stop the deadly mers virus from spreading but the outbreak is growing. officialing confirmed another person died bringing the o total now, dead to 11. but some good news in hong kong. all 46 people tested after being suspected of having the virus have been declared disease free. and that is where we find cnn national correspondent ivan watson. good news in hong kong so far. but south korea is still struggling. ivan? >> reporter: that's right. and the south korean authorities have taken a number of pretty serious measures to try battle this outbreak and right now, they've got saudi experts meeting with korean officials because after all, middle east res pra tore ory syndrome is believed to have originated in saudi arabia and patient zero in this case i

the company is saying, yes, james murdoch will be the ceo of fox on july 1.lix: we do want to get straight to top stories. yahoo! ceo marissa mayer is says that the company will proceed with the alibaba spinoff. myers spoke earlier at the bloomberg technology conference. we are moving forward with the plan, based on the understanding of a few things, the contemplated changes don't requests foriously rulings. we have filed for it well in advanced, these changes were communicated. the other thing that gives us confidence is it doesn't seem that these changes are contemplated changing the applicable law, so it is more about the processes around these transactions. said that theso planet should not be affected by regulatory changes. trumpstate mogul donald is running for the republican nomination. he launched his campaign today. he says that the u.s. has become a dumping ground for other people's problems and he vows to get tough on radical islam. >> radical islam is eating up large portions of the middle east. they have become rich. i am in competition with them

will rupert murdoch loosen his grip?oes not reportedly get along with the sons very well. got on variety and said he'll expect to continue to report to rupert. joining me sarah allison, the author of "war at the "wall street journal."" she a contributing editor at "vanity fair." welcome. >> thanks for having me. >> the initial headlines were a big surprise. james to become ceo. there was clarification that this would be a power sharing arrangement. what will really happen after the board meeting this week? >> i think the story that broke was actually -- it was very dramatic but then turned out that it was almost like opposites day. because everything that you thought was going to be true from what the story said everyone kept back-tracking immediately afterward. turns out people close to the company tell me his title is changing but his role is not changing. james has one title, lachlan has another title. but i'm told titles really don't matter. so it's one of these things where you immediately are getting these sort of

murdoch filed from divorce in we wend wendy in 2013. he made a bid to take over time warner, the parent company of cnn. a month later, he took away his bid. if james and lachlan work as hard as their father, we could see them at the helm for another 40 years. >> many investors have been calling for dick costello to resign for the pastier as social media site struggles to add users and generate revenue. >> another leader calling it quits. costello will leave at 1st of july. >>> in spokane, washington, the president of the local naacp chapter is under fire for claiming she is african-american. >> the problem is her birth certificate and her parents say otherwise. jeff humphrey from cnn affiliate kxly reports. >> rachel dozial has become the new face of the civil rights movement. striving for equality made her a target for numerous hate crimes. >> it is highly frustrating. been a stretch of years. and certainly no small amount of stress for my kids. as well as myself. >> she said she has been victimized more than a dozen times in both spok

rupert murdoch is set to hand down the ceo title to his son james.will run you through the details after the break. good morning. ♪ jonathan: good morning and welcome back to "on the move." let's get you up to speed. zimbabwe will officially remove its local currency from circulation. the move marks the formalization of a system introduced in 2009 to help stem inflation. the central bank will offer five u.s. dollars for every 175 quadrillion zimbabwe dollars. dick costolo stepping down as ceo of twitter. cofounder jack dorsey will return to the role he was pushed out of. costolo's departure will see him leave behind $16 million in stock awards. today, dominic strauss-kahn will learn whether he is found guilty of abrogated -- aggravated pimping charges. they have maintained his innocence from criminal activity, saying he has a right to a private life. 40 minutes into the session, let's get you up to speed. the ftse 100 pulling back in the early hour. the rest still down. the dax also lower, down by 0.5%. the athens stock exchange, there we are, down 4

murdoch 's 84th?h: he has been grooming his sons for over a decade now to take over the entertainment company, foxconn and news corp.. rupert is the ultimate media mogul, and he is passing the reins to the next generation. tom: paul sweeney is with us, and seth masters as well. do you have to get on those wonderful cash flows? seth: you have to be careful about where you pick and choose to be. i think the story, ironically is about something we also do which is family wealth planning. we work a lot with ceo's. tom: mr. murdoch, if you are listening this morning, a b bernstein. seth: does that involve letting the family continue to run the company or not? you need to keep a lot of eggs in one basket, and that dramatically increases your risk. paul: i think he will have chase carey there for at least a year as his advisor. the question is, can he step up? he has done a good job before. he has been involved but now is the time to really execute. brendan: challenges that would james has to do is turn in e

rupert murdoch is giving the ceo position to james murdoch his son.e will remain an active and become executive chairman. lockwood will become executive cochair. chase kerry will become executive vice-chairman but no longer be president and ceo. he will stay on to work with rupert. this is a matter of succession. this cooperation has been working for some time. well thought out plan according to a company source. the parent company of the network. >> this is the parent company of fox business network and fox news channel. these plans have been in place a long time and rupert in my personal view has relied heavily on his sons ended is the necessary transition for the comp me. rupert still very active. it always depresses me rupert murdoch to this day. stuart: the man who runs a company is moving into the publicly traded company. you have to have a succession plan on this is that. it's formalized and published in this instead. >> as you were sharing the breaking news, it's been a very crucial member and trusted advisor. he's out in los angeles a lot bec

james murdoch will become the new ceo. lachlan murdoch will become chief executive co-chairman. >>> and the judge awards a legendary hip-hop group $660 million in a copyright case. last june the beasty boys won $1.7 million in a copyright infringement verdict. yesterday's award is to pay for the group's legal fees. anne-marie? >> no sleep till the lawyers get paid. jill wagner at the new york stock exchange. thanks a lot jill. >>> when we return highlights from the world cup, and the team in baseball why they had to wave the white flag. take on the world with 100 calories, snack. yoplait greek 100. there are hundreds of reasons to snack on it. how do you get to the top of your game? give it everything you've got and leave those sticky sunscreens behind. new neutrogena cooldry sport. powerful protection designed to feel good. micromesh technology lets sweat pass through and evaporate so skin stays comfortable, while clinically proven protection keeps going strong. don't get stuck with a sticky sunscreen. stay protected and

>> the top line is not rupert murdoch is stepping down but rupert murdoch is actually going nowhere.ent, as important to this company as at any time over the last almost 65 years. >> so why make this announcement right now then? >> because the other thing about the other mission that murdoch has always been devoted to is making his children the people who will run this company for the foreseeable future. this is all part of a plan, not for him to go anywhere but for nobody to get in the way of his children's destiny. >> what can you tell us about james? are you surprised he survived that british hacking scandal, number one. >> gobsmack. >> i love that word. how do you describe his management style? does he have what it takes to run this company? >> i think for all of these kids to have gotten to this point, they've all gone through, number one, joining the company, quiting the company having fights with their father and siblings, having fights with rupert murdoch's executives pushed out, pulled back in by the father. in fact lachlan who also has -- the other brother who also has a bi

hand his ceo role to his son, james murdoch. rupert would then become the executive chairman. according to those sources, his older son is expected to be named executive co-chair. now, chase kerry, the current chief operating officer, is likely to step into a new advisory role in the near future. no timeline has been shared for this transition just yet, but a spokesperson says the matter of succession itself is on the agenda at their upcoming regularly-scheduled board meeting. this succession plan, of course, began unfolding last year when james murdoch was brought on as co-coo and lack land as nonexecutive chairman. fox business and fox news are, of course, owned by 21st century fox, and the networks' chairman and ceo, roger ailes, says he expects to continue reporting directly to rupert murdoch. we're watching that investor reaction. shares sank a little bit, about 1% on the news, and they closed just down a little bit. guys? melissa: all right, jo. we're hearing some breaking news right now, too, that i wanted to ask you abou

rupert murdoch announces he will resign.know who's taking over. >>> hello, i'm natalie allen. welcome to our viewers of the united states and around the world. you're watching cnn newsroom. >>> our top story is from south korea where officials are are racing to stop the deadly mers virus from spreading but the outbreak is growing. officialing confirmed another person died bringing the o total

rupert murdoch makes it official. giving up control of his media empire to his sons. details on that coming up after the break.

murdoch will be staying at executive chairman.lly he will have the final word still on all matters at the company. so even though it might seem like a title change it's a very important title change because it is the handing of the reins of one of the biggest media companies in the world to a new generation. >> so son james i'm searching back in my memory banks, he was in some sort of hot water with the hacking scandal. >> that's right, the hacking scandal in britain. where the newspaper was hacking into the phones of celebrities, victims of crimes. it was a terrible ethical breach over there. there was a lot of investigation in britain and james murdoch stepped down from a role he had there as a result. he essentially was one of the people taking responsibility. but he has since rebounded so to speak. he came the coo of his father's company, 21st century fox, and now he'll be taking over the main job. 21st century fox owns fox news fox sports 21st century fox movies all the movies you see the fox logo on. it's a giant sprawling c

keeping it in the family, rupert murdoch is ready to hand the baton to his son. those stories and many more. stocks just pulling back. ♪

not only because james murdoch will be taking over as ceo, but also because loughlin murdoch, who isly non -- co-nonexecutive chairman will take over as a co-executive chairman. i know the distinction may not seem like much but it is very important. loughlin murdoch is going to have sort of a partnership is the way many sources close to this describe it to me with his brother james in terms of running fox. of course the running of fox has also included professionals from the outside for years. first it was peter chernin for many years. in 2009 he was replaced by chase kerry. kerry is going to be stepping down as coo of the company. he will remain in an advisory capacity, at least for some time is the expectation. they'll know exactly what his role -- it seems to be hard for them to define at this point. nonetheless, we'll see carey decides eventually but lachlan and james will run this company as rupert murdoch remaining executive chairman of forks. he's also the executive chairman of news corp., manage. of which remains unchanged. so a big day in terms of the changes that will take

plus why is one trader betting nearly $8 billion that rupert murdoch's empire is about to crumble? >> this is the most humble day of my life. >> we'll take you behind the trade that raised eyebrows in the pits when "fast money" returns. ♪ hp instant ink can save you up to 50% on ink delivered to your door, so print all you want and never run out. plans start at $2.99 a month. right now, buy an eligible printer and get three months of free ink with hp instant ink. available at participating retailers. the most affordable way to print. hp instant ink.

, rupert murdoch will have plenty of say about what happens. maria: you mentioned a digital part of the story, one of the strengths of james murdoch. >> professional and personal interest in a variety of start ups and new media organizations. he is expected to continue that investment as with any sort of generational change at the top of any company, digital becomes more the forefront but we can't forget rupert murdoch is into technology, tweets on a regular basis providing fodder for discussion. the entire direction is not expected to change much according to sources but we expect to see some potential generational change in the coming year. maria: this speaks to the broader issues within technology, we saw rupert murdoch try to acquire time warner earlier this year. last year we see a lot of consolidation because of this idea people want to watch their contents when they went and when they want. >> there's a changing demographics, the young regeneration getting news and entertainment in a different manner. with regard to this situation it wil

rupert murdoch is stepping aside and the new world of media is coming to fruition. there was a note out saying, it doesn't take anything for the company, they will still have to cut and they have a capital return issue at the end of the day. >> for me -- alix: to that point, we also talked to dish network. is one of the all-time greatest business guys i have ever met and certainly in the u.s. james done a good job and is no slouch. well-positioned in that company for a long time. he is passionate too. really successful people have a passion for what they are doing. alix: he is no slouch.

. >>> then media mogul rupert murdoch is stepping down as ceo of fox and keeping it within the family when it comes to his successor. details as this broadcast continues. worldwide on cnn international and cnn usa. have moderate to se rheumatoid arthritis like me... and you're talking to a rheumatologist about a biologic, this is humira. this is humira helping to relieve my pain and protect my joints from further damage. this is humira helping me reach for more. doctors have been prescribing humira for more than 10 years. humira works for many adults. it targets and helps to block a specific source of inflammation that contrubutes to ra symptoms. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers, including lymphoma, have happened, as have blood, liver and nervous system problems, serious allergic reactions, and new or worsening heart failure. before treatment, get tested for tb. tell your doctor if you've been to areas where certain fungal infections are common, and if you've had tb, hepatitis b,

rupert murdoch is preparing to step down as chief executive officer of 20th century fox and hand the title to his son james. a person familiar with the matter says james' older brother will become executive chairman. china's security chief is in jail for corruption. he pleaded guilty to three charges, including bribery, abuse of power, and leading state secrets. he was sentenced after proceedings in shenzhen. facebook has announced that its oculus virtual reality headset will work on the xbox one. oculus will start to ship its consumer version of the headset in 2016. the device lets people immerse themselves in games or experiences. now let's look at what is still to come on "the pulse." at 9:35, we will hear from the mexican president.

we're told rupert murdoch is expected to keep going in the office every day. he still has a big controlling stake. >> he can do whatever he wants. >>> the ceo at twitter is out. dick costolo is out. many investors have called for him to step down for years. and now he has, the stock is up before the bell. jack dorsey will be the interim ceo. jack dorsey has one of the best handles in history. @jack. >> if only i started twitter. >>> disturbing details this morning concerning the murders of a washington, d.c. family held captive in their home. we will tell you what investigators are now revealing about the case next. much check it out. the s6 takes wider selfies that fit everybody. the iphone 6 just cut off nana... nana!? when you do the math,

murdoch will hand over ceo position of 21st century fox to his son james. first point to make her not an unexpected move. talking analysts and expected move murdoch james' brother under this plan as it is put in police place. key points to make in talking it an analyst before the show. chase kerry currently officer of 21st century fox reports say he'll leave that position a day-to-day role and assume another position at the company. how that is defined seen by the analyst is a key going forward. finally ron who runs this network and fox news channel will continue to report directly to rupert murdoch, so all of that happening today. enemy back to you a quick check of the stock it hasn't been moving down a little bit. that is our apparent 21st century fox. >> for the stocks down or concern is the chase kerry a nonmurdoch outside a figure and dominant tin fliewn cial. favored by wall street comurnl and -- scared of that. very, very respected mr. kerry, and a curious as to what the new role will be. in the mean tile b word is gaining traction right now. bubble

we've got reaction from dish network ceo charlie ergen on murdoch stepping down. scarlet: and keeping it in the family. will have a view of chevron you won't see anywhere else. ♪ mark: good afternoon from bloomberg world headquarters in new york, this is "bloomberg market day. " i'm mark crumpton. scarlet: and i am scarlet fu. day for the s&p 500, but there are still making questions over the greek debt talk. but there is a big catalyst and a cousin of these retail sale numbers, we are seeing recoveries in treasuries as well. retail sales only matched expectations is that of exceeding it. fedil sales would push the ever closer to lift off. let's take a look at the dollar yen. for itas a 12 year low yesterday, and you can see the dollar is stronger and the yen weekends much to the chagrin of the bank of japan. mark: and let's take a look at thetop stories crossing bloomberg terminal at the top of the hour. mr. murdock will be giving up hisposition as fox ceo, and successor will be his son, james. no word on when all of this might happen. james's older brother will