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Rupert Murdoch's Media Empire is 'Shaken, Not Stirred'
March 1, 2012
[ by Melanie Gretchen ]
James Murdoch, son of Rupert Murdoch and heir apparent to succeed his father as Chairman and CEO of the News Corporation, took a significant detour from his rise to the top. James resigned as head of the newspaper properties division, which includes The Sun, The Times, The Sunday Times, and Sky Television.
Going forward, James will direct his attention to the company’s lucrative international television properties, working from the New York headquarters of News Corporation, Rupert Murdoch’s global media conglomerate.
Media Scandal. The younger Mr. Murdoch, 39, heads out amidst investigations into reporters, editors and corporate executives, by the police, Parliament, and a judicial inquiry into a pattern of widespread phone hacking and payoffs to police and other public officials acting as sources for stories. In July of last year, newspaper News of World closed its doors, followed by the arrest of former executive editor Neil Wallis, former editor Andy Coulson, and former News of the World royal editor Clive Goodman.
James Murdoch's Departure. Attributed by News Corp. to a routine step in an order by Rupert Murdoch 18 months ago, James Murdoch would continue as News Corp.’s deputy COO, and that oversight of the British newspapers would be taken up by Tom Mockridge, chief executive of News International, who would report to News Corp.’s president and COO, Chase Carey.
Other industry members view the change as a signal that James Murdoch was no longer considered the likely heir to the throne of News Corp. "You could put him in any division, and there’s no way he escapes the implications if he was involved" in hacking and bribery at the British newspapers, said David Bank, a media analyst at RBC Capital Markets.
For further details, go to [NY Times, 2/29/12].
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