Rupert Murdoch has taken a big step in the succession planning of his media empire by appointing his sons Lachlan and James to top roles.
Lachlan, 42, is to be non-executive co-chairman of 21st Century Fox and News Corp, and James, 41, is to be chief operating officer of 21st century Fox, reporting to but sharing many responsibilities with Chase Carey, the chief executive.
The brothers were already directors of both companies.
There is no new role for Elisabeth Murdoch, the third sibling from Rupert’s first marriage.
Rupert said he was “very pleased” Lachlan was returning to a leadership role in 21st century Fox.
“Lachlan is a strategic and talented executive with a rich knowledge of our businesses,” he said in a statement. “From 1994 to 2007, Lachlan’s executive career at the company spanned the globe, culminating as deputy chief operating officer responsible for the group’s most important publishing businesses in addition to its vast US television station holdings.”
In an internal memo to News Corp employees, Rupert wrote: “I asked that the new News have the sensibility of a start-up and that we focus on creative teamwork as we develop our core businesses, and I am proud of the efforts you have made in recent months, under the leadership of Robert Thomson.
“I have no doubt that Lachlan’s strategic sense and his passion for media and for knowledge will greatly assist Robert and me as we lead the company over the coming decade.”
Mr Carey said James’s appointment “in many ways . . . formalises the role he’s been playing for some time and acknowledges the contribution he has made in driving our business”.
The company said Mr Carey’s role in the company was still being determined. “We are finalising Chase’s extended agreement and are confident it will be completed shortly,” a spokesperson said.
James, who was heavily involved in the fallout of the hacking scandal at the News of the World and decision to close the British newspaper, will have direct responsibility for Fox Networks Group, which will now report to him and will also have direct responsibility for the strategic and operational development of the company’s interests in the pay-television Sky and Star services in Europe and Asia, respectively.
Lachlan is also currently an executive chairman of NOVA Entertainment Group – an Australian national FM network, executive chairman of Illyria Pty Ltd, and a director of Sydney’s Museum of Contemporary Art.
Until recently, he also served as non-executive chairman of Ten Network Holdings.