A Murdoch Son Is Named to a Top News Corp. Position

PARIS — In an apparent step toward smoothing the succession path at News Corporation, the media giant said Wednesday that Rupert Murdoch’s son Lachlan had been named to a top spot on the board. Lachlan Murdoch, 42, becomes nonexecutive co-chairman, while his father, Rupert Murdoch, 83, will remain executive chairman. Rupert Murdoch controls News Corporation through a nearly 40 percent family shareholding. The move for Lachlan Murdoch, a director of News Corporation and 21st Century Fox, suggests he will be the next leader of the company, beating out his brother James, 41, once seen as the heir apparent. Also on Wednesday, the company announced that James had been promoted to co-chief operating officer at 21st Century Fox. He will share duties with Chase Carey, chief operating officer and president. James Murdoch’s fortunes took a turn for the worse after the News of the World hacking case shined an awkward light on News Corporation, and on James’s role in approving a settlement of more than $1 million to resolve allegations that the tabloid had been illegally eavesdropping on celebrities, politicians and others. Rupert Murdoch said in a statement that Lachlan Murdoch’s appointment was “a sign of confidence in the growth potential of News Corporation and a recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport.” The announcement Wednesday follows a shake-up last year in which News Corporation split its businesses, separating its publishing operations, which include The Wall Street Journal, from its more lucrative entertainment divisions. Nine years ago, Lachlan Murdoch resigned his executive positions at News Corp. He previously served as deputy chief operating officer, a role in which, according to the company, “he was directly responsible for two-thirds of the company’s global revenue, with specific emphasis on its U.S. television stations group and publishing assets.”



http://www.nytimes.com/2014/03/27/business/lachlan-murdoch-is-named-to-a-top-news-corp-position.html?hp