Julia Finch in London
LACHLAN MURDOCH, the elder son of media tycoon Rupert Murdoch, recently emerged as the heir-apparent to his father’s global empire, which means the 25-year-old will take control of News Corp’s Australian operations.
Speculation has centred on whether Lachlan or his elder sister Elisabeth (28) – a senior executive with BSkyB – would be chosen, even though there is no indication that Murdoch senior, now 66, has any intention of retiring.
Lachlan seemed to gain the upper hand last year when he was made managing director of the Australian News Limited operation and joined the News Corp board.
Murdoch senior said that Lachlan would assume responsibility for the Australian operations after the retirement of News Limited executive chair, Ken Cowley, in three months.
Cowley, who joined News Corp 33 years ago and helped Murdoch senior found The Australian national newspaper, is understood to have been acting as Lachlan’s tutor and mentor.
News of the appointment had little effect on News Corp’s share price, which has been languishing in recent weeks owing to doubts over whether the group will be able to meet its ambitious profits’ forecast.
Analysts in Sydney did not appear worried about Lachlan’s youth or inexperience. Several expressed doubts that he would be taking any important decisions without consultation.
Others believe his elevation to the top job in Australia is only another step on the ladder and that he will soon be off to the United States to get involved in the international business, which stretches from Twentieth Century Fox and HarperCollins books to the Rugby Superleague and the Fiji Times.
Lachlan has been on the high-speed executive escalator at News Corp ever since graduating from Princeton University in the US three years ago.
After a series of jobs designed to give him shop-floor experience, he was catapulted, aged 22, straight into the general manager’s job in Murdoch’s Queensland newspaper group.
Less than a year later he was publisher of The Australian, and was then promoted swiftly through the top ranks of News Limited, which dominates the Australian newspaper industry and has interests in pay TV.