News Corp today announced Lachlan Murdoch, son of executive chairman Rupert Murdoch, has been named non-executive co-chairman of the global media group.
In a series of announcements, it was also revealed that Lachlan, aged 42, will also take on non-executive co-chairman role at 21st Century Fox.
His brother, James Murdoch, will take up the role of co-chief operating officer at 21st Century Fox, the entertainment company that was demerged from News Corp last year.
“This appointment is a sign of confidence in the growth potential of News Corp and a recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport,” Rupert Murdoch said.
He added that James had done an “outstanding job driving our global television businesses and our shareholders, customers, and colleagues will benefit greatly from his many talents.
“This Company has never been better positioned to capitalize on the increased global demand for quality storytelling and news, and our collective future has never been brighter.”
Seven years ago, Lachlan Murdoch left the business his grandfather founded and moved back to Australia to grow his private investment company Illyria.
He since took on many prominent role in the Australian media industry becoming executive chairman of radio group NOVA and until recently, non-executive chairman of Australia’s third-ranked TV network, Ten Network. He continues to owns about 9% of Ten.