Rupert Murdoch is working from home after suffering a back injury

David Paul Morris | Bloomberg | Getty Images

Rupert Murdoch, co-chairman and founder of Twenty-First Century Fox

Media mogul Rupert Murdoch suffered a painful back injury while on vacation, a source told CNBC

Murdoch sent an e-mail to employees confirming he sustained the injury while sailing. The email said he was on the road to recovery, but will be working from home for several weeks.

Vanity Fair reported that Murdoch had been hospitalized for the injury, which occurred around the New Year’s holiday while 86-year-old Murdoch was vacationing in the Caribbean on his son Lachlan’s yacht.

Murdoch’s injury could hardly come at a more sensitive time. His company, 21st Century Fox is in the midst of a $52.4 billion deal to sell assets to Disney.