Rupert Murdoch is stepping down as 21st Century Fox CEO and handing the company’s reins to his sons James and Lachlan Murdoch. James will soon be named CEO of Fox, while Lachlan will become executive chairman alongside their father.
Meanwhile, Chase Carey will remain with the company through May 2016.
Below is a timeline of how the brothers rose to the top:
September 8, 1971: Lachlan Keith Murdoch is born in London.
December 13, 1972: James Rupert Jacob Murdoch is born in London.
1994: Lachlan joins News Corp., starting out in the company’s Australian newspaper business, after getting his B.A. from Princeton University. He becomes publisher of Australia’s first national paper, the Australian, shortly after.
1995: Lachlan is appointed deputy CEO of News Limited.
1995: James drops out of Harvard University, where he was studying film and history, to set up indie hip-hop label Rawkus Records, which would ultimately be bought by News Corp. in 1998.
1996: Lachlan becomes executive director of News Corp., while James joins News Corp. as chairman of Festival Records, with a keen interest in new media.
2000: Lachlan is appointed deputy chief operating officer of News Corp., making him the heir apparent. Meanwhile, James is appointed chairman and chief executive of News Corp.’s Asian satellite service Star Television, based in Hong Kong.
2003: James is made director and chief executive of BSkyB within the same year.
2005: Lachlan abruptly quits his executive positions at News Corp after internal turmoil with COO Peter Chernin and Fox News Channel chairman Roger Ailes. He goes on to launch his own private firm in Australia, called Illyria Pty, and invest in everything from the Indian cricket team Rajasthan Royals to the online DVD rental company Quickflix. James becomes the heir apparent.
2006: Sky acquires a 17.9% stake in ITV under James’ leadership.
2007: James steps down as CEO of BSkyB and moves up to become News Corp.’s chief executive in Europe and Asia, replacing his father as chairman of Sky.
February 2009: James is appointed non-executive director of the British pharmaceutical company GlaxoSmithKline.
November 2009: Lachlan’s Illyria acquires 50% of Nova Entertainment, making him chairman.
February 2011: Lachlan is appointed acting CEO of Ten Network Holdings.
October 25, 2011: News Corp.’s outside shareholders vote against James and Lachlan’s re-election to the board of directors, but the Murdoch’s control of 38% the company’s voting shares allows them to remain.
February 29, 2012: James gives up his title as executive chairman of News Corp.’s U.K. publishing unit, but keeps his corporate title as deputy COO.
March 2014: Lachlan is appointed co-chairman of News Corp and 21st Century Fox. James is named co-chief operating officer of Fox alongside Chase Carey.
April 2014: Lachlan and James Packer agree to an $40 million settlement over the failure of One.Tel after News Corp’s multihundred-million-dollar investment in the startup telecommunications company misfires. James Murdoch joins the board of advertising start-up TrueX Media, which Fox acquires in December.