Heir apparent to Murdoch media empire has quit

Dominic Ponsford
Heir apparent to the News Corporation media empire Lachlan Murdoch has resigned from his job as deputy chief operating officer.
Lachlan, 34, will remain a non executive director of News
Corporation – the vast media empire which includes the News
International titles and the Fox TV network and film
studios in the United States.
He said:
“I have today resigned my executive position at News
Corporation. I will remain on the board and I am excited about my continued involvement
with the company in a different role.
“I look forward to returning home to Australia with my wife, Sarah, and son, Kalan, in the
very near future. I would like especially to thank my father for all he has taught me in
business and in life. It is now time for me to apply those lessons to the next phase of my
Lachlan joined the family business in 1994 and has served in various roles, most
recently as deputy chief operating officer of News Corporation and publisher of the New
York Post.
Rupert Murdoch said: “I am particularly saddened by my son’s decision and thank him
for his terrific contribution to the company, and also his agreement to stay on the board
and advise us in a number of areas. I have respected the professionalism and integrity
that he has exhibited throughout his career at News Corporation.
“His achievements include driving all of his reporting divisions to record profits and the
New York Post to its highest-ever circulation. I am grateful that I will continue to have
the benefit of Lachlan’s counsel and wisdom in his continued role on the Company’s
News Corporation claims annual revenues of $23
billion and includes Fox Entertainment Group, Twentieth Century Fox
Film Corporation, Fox Television Holdings, Fox Broadcasting Company,
Fox Sports Networks, News International Limited, News Limited,
HarperCollins Publishers and STAR Group.
The UK national titles The Sun, News of the
World, Times, Sunday Times and Times Educational Supplement are all
part of the News Corp empire.

resignation of Lachlan leaves younger son James, 32, in poll position
to take over the Murdoch empire when Rupert, 74, finally retires.
James was controversially made chief executive of BskyB in November

No comments to display

Leave a Reply

Your email address will not be published. Required fields are marked *