Like father like son Murdoch Jnr being groomed for top job
News Corporation named James Murdoch deputy chief operating officer yesterday, bringing him to New York from London and handing him more responsibilities under his father, chairman and chief executive officer, Rupert Murdoch.
James Murdoch (38) will also become chairman and CEO of News International. In the newly created role, James will develop strategy and build new franchises, while continuing to report to chief operating officer Chase Carey.
The appointment may strengthen the younger Murdoch's position as the leading contender to succeed his 80-year-old father at the helm of News Corp, the 'Times' newspapers, 'Wall Street Journal' and Twentieth Century Fox film studio. James has worked at the company for 15 years and run many pieces of the business, including a group that accounts for about 20pc of the company's revenue.
"It's part of the overall family plan to have James mostly in charge," said David Joyce, an analyst with Miller Tabak in New York. "They need to groom the Murdoch children some more, and Chase is a great one to be learning from."
Even with James's promotion, Mr Carey would still likely become CEO if Rupert Murdoch should need to be replaced in the near future, with James succeeding him later, said Mr Joyce.