Murdoch's son to run empire

Published on Saturday 8 December 2007 01:14

WHEN James Murdoch dropped out of university to start a hip-hop record label, few would have bet that just 12 years later, he would arguably be the most powerful figure in the British media.

But it emerged yesterday that the 34-year-old would be handed the task of leading his father Rupert's vast newspaper, television and internet empire in Europe and Asia.

James Murdoch, who once billed himself as a professional cartoonist, was appointed as chief executive and chairman of News Corporation for both continents.

He now controls newspapers including the Sun, the Times and News of the World.

Rupert Murdoch, 76, yesterday described his son as a "talented and proven executive with a rare blend of international perspective and deep, hands-on experience in improving operational results".

The reshuffle appears to address the long-term speculation of who will eventually take over the media and communications conglomerate.

Rupert Murdoch has said he wants to keep control of the company within his family.

His older son, Lachlan, 36, had initially been seen as the leading contender during his time at News Corp, but he left the group in 2005 to start a new venture.

James Murdoch, one of the mogul's six children, became the youngest-ever chief executive of a FTSE 100 company when he was appointed to head BSkyB four years ago. He will step down from that post but also take over his father's role as non-executive chairman of the satellite broadcaster.

During James Murdoch's time at BSkyB - which is 39 per cent owned by News Corp - there were obvious signs of his father's fiery temper and business acumen. His father claimed the youngest son from his second marriage had "transformed Sky".

Richard Greenfield, an analyst with Pali Research, last night said: "This is grooming James for a larger role longer term at News Corp. He has proved himself beyond a doubt over the last several years at BSkyB."

A dropout from Harvard University, where he studied film, James Murdoch ran hip-hop label Rawkus Records before selling it to News Corp.

When News Corp's internet business was founded in the early days of the dot-com boom, he became president. But as boom turned to bust, he moved on to Hong Kong-based Star TV.

News Corp also owns the film studio 20th Century Fox, publisher Harper Collins and internet properties such as MySpace.