Updated: Chernin to Leave News Corp.

NEW YORK  Peter Chernin, who has served as Rupert Murdoch’s right-hand man at News Corp. since 1996, will step away as president and COO when his contract expires June 30, opening up crucial questions about who will have hands-on operational control of the company.

News Corp. officially announced Monday afternoon that negotiations over Chernin’s future with the company had come to an end.

No immediate replacement was named; instead, the Los Angeles-based Fox businesses will report directly to News Corp.

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