The long-running saga of whether Rupert Murdoch would choose one his siblings to be his successor finally looks to be over with the appointment of James Murdoch as chairman and CEO for News Corporation Europe and Asia. James, who said he was "excited to be rejoining News Corp" has resigned as CEO of News Corp's UK-based BSkyB business.
In this new role, which he starts immediately, James will take direct responsibility for the strategic and operational development of the firm's television, newspaper and related digital assets in Europe, Asia and the Middle East. He will also rejoin the board of directors, on which he served from 2000 to 2003, and become a member of the Office of the Chairman, Rupert Murdoch.
In announcing the appointment, Rupert said: "James is a talented and proven executive with a rare blend of international perspective and deep, hands-on experience in improving operational results. His experience at Sky, co mbined with his track record in Asia while running STAR, and prior roles, make him uniquely qualified to take forward these exciting businesses that have grown so much over the last decade."
James said: "Media is fundamentally a business of ideas where top-quality, professional journalism and creative entertainment have an extremely bright future – significant value can be created by focusing on pace, execution and taking advantage of the sea change we are seeing in media."
The media giant also announced that Natalie Bancroft, a member of the Bancroft family that sold the Dow Jones Company in August, has been appointed to the board of directors of News Corporation. Ms Bancroft, 27, is a professionally trained opera singer currently based in Italy and is a graduate of the L'Institut de Ribaupierre in Lausanne, Switzerland.