Remember all the speculation about James Murdoch joining The Walt Disney Co. with the closing of the $52.4 billion deal for most of 21st Century Fox’s assets, possibly in a senior management role?

Apparently not.

The Wall Street Journal reports that Murdoch is planning to strike out on his own should the deal close, possibly launching his own venture-capital fund.

Disney CEO Bob Iger had been vague about a position for Murdoch, post acquisition, saying during a December earnings call that he would “continue to discuss whether there is a role for him here.”

The Burbank entertainment giant subsequently announced a reorganization that positioned two executives as possible successors to Iger: Kevin Mayer, the newly appointed head of the direct-to-consumer business, and Bob Chapek, head of parks and consumer products.

That seemingly left no role for Murdoch, who has been telling people he won’t be headed to Disney, the Journal reports.

Murdoch will likely run his own venture, as he did before he joined the family business in 2000. Prior to joining the company then known as News Corp. he co-founded Rawkus Records, a hip-hop label that launched the careers of many rappers.

Neither Disney nor Fox could be reached for comment.