CNBC is reporting that 21st Century Fox C.E.O. Rupert Murdoch is planning to transfer his title to his 42-year-old son James:

While James Murdoch, 42, would take over the day-to-day management of Fox, he will work in tandem with his 43-year-old brother Lachlan and his father. Sources who have spoken with the Murdochs in recent weeks tell me they have shared their plans openly and describe the Murdoch brothers’ new roles as a “partnership.”

You may remember James for his role in News International’s phone-hacking scandal, during which he testified before the British Parliament that he was completely unaware of the criminal activities taking place at News of the World and other tabloids owned by Murdoch’s News Group Newspapers (NGN) conglomerate.

Almost immediately after his testimony in July 2011, a former editor and a former lawyer for News of the World announced that Murdoch was, in fact, aware of one of the most damaging pieces of evidence related to the phone hacking scandal: the infamous “for Neville” email sent by NotW reporter Ross Hindley that contained transcripts of hacked voicemail messages left by the English footballer Gordon Taylor for his legal advisor, Jo Armstrong. That email suggested, among other things, that News of the World editors had encouraged systemic hacking of celebrities’ cell phones. (An internal memo prepared by News International lawyer Michael Silverleaf further indicated the extent to which News of the World editors were aware of the paper’s criminal liability.)

In response to the editor and lawyer who accused him of lying to Parliament, Murdoch stood by his testimony, without clarifying why.

According to the New York Times, Murdoch’s new title will be discussed next week, at 21st Century Fox’s scheduled board meeting.

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