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James Murdoch Appointed Heir

Calling James Murdoch the ideal person for the position, News Corp. has announced his promotion to deputy chief operating officer. Oh, and he is Rupert's son. James, 38, will move to the firm's Manhattan office from London, where he runs the European and Asian operations.

The news confirmed analysts' expectations that he was the favored successor to his father. Lachlan Murdoch, acting chief executive of Ten Network, is already a News Corp director, to be joined by sister Elisabeth on the board.

''It's part of the overall family plan to have James mostly in charge," David Joyce, an analyst at Miller Tabak & Co in New York, told Bloomberg.

Read the whole story at Sydney Morning Herald »

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