News Corp. Chairman-CEO Rupert Murdoch confirmed reports that his son, Lachlan Murdoch, 26, will be his eventual successor at News Corp. The succession plan first surfaced in "Sky High," a new book about British Sky Broadcasting, of which News Corp. owns a 40% stake. Three of Mr. Murdoch's children work for News Corp. Lachlan currently heads News Ltd., the Australian unit of News Corp.; Elisabeth Murdoch is based in London as general manager of British Sky Broadcasting; and James Murdoch was just named president of News America Digital in New York. A New York spokesman for News Corp. said the children had decided the issue among themselves, but that nothing was imminent since Mr. Murdoch, 66, was planning to work as long as he could. Two other senior managers based in Los Angeles, Peter Chernin, chief operating officer, and Chase Carey, co-chief operating officer, would also assume more responsibility should Mr. Murdoch step down for any reason, said the spokesman.
Copyright December 1997, Crain Communications Inc.