What Next for the Murdoch Dynasty?

What Next for the Murdoch Dynasty? - at www.moneyweek.com - the best of the international financial media

Lachlan Murdoch's announcement last Friday that he was quitting his post as deputy chief operating officer at News Corp leaves his younger brother, James, as the heir-apparent to the Murdoch empire. Unlike his sister, Elisabeth, who was the first of the trio to go it alone when she quit BSkyB in 2000 to launch her own production firm, Shine, Lachlan appears to have resigned without a "cast-iron exit strategy", says Owen Gibson in The Guardian. He cited "family reasons" for leaving, saying he wishes to return to Australia with his wife, Sarah O'Hare and eight-month-old son, Kalan. But the rumour mill immediately ground into action, with some saying that he doesn't like being pitted against James, who has impressed as chief executive of BSkyB, and others speculating that he was fed up of being in a non-job', third in the pecking order behind his father and News Corp's well-respected president and chief operating officer, Peter Chernin. According to the LA Times, Lachlan probably won't be replaced, "because the divisions he oversees are run by strong executives".

A surprise departure

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