Murdoch’s Wall Street Journal names the 58-year-old son of the 80-year-old chairman as heir apparent
Murdoch’s Wall Street Journal has named the 58-year-old son of the 80-year-old chairman as heir apparent.
In a picture-perfect advertisement for a great business, the paper’s editors wrote that the younger Murdoch was capable of taking over from his more experienced father. The letter was signed by three senior editors at the paper.
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The announcement was expected after James came back into the fold, amid turmoil at the company, last month after almost two years as a no-show.
James is seen as a successor as 21st Century Fox, the conglomerate that his father’s media empire comprises of Australian broadcaster, Sky, TV producer Shine, and US cable companies, Fox News and FX.
But, beyond his business skills, he also has a difficult personal history for his father. He was accused in 2007 of standing by while a phone-hacking scandal developed at News of the World. He eventually testified before MPs and admitted that the company paid bribes to police to ensure some information was leaked. He was forced to resign as chairman of Sky.
James was hailed at the time as a man who would restore the company to its pre-hackage days and woo investors. But it seems his likely remit is to keep the succession on track, and fend off challenges from other companies such as Walt Disney.