Rupert Murdoch has effectively confirmed son James Murdoch is his choice to take over News Corp. For now, James moves up at Sky to become non-exec chairman, while becoming CEO for News Corp outside the US. Meantime, Rupert Murdoch leaves the board of Sky – where News Corp owns 39 per cent – after 18 years.

The moves have been triggered by the News takeover of Dow Jones; Les Hinton head of News International (the UK newspaper operation) is moving to be CEO of Dow Jones. Murdoch Jnr will head News International, Sky Italia and Star, the 34 year old will also join the main News Corp board. Jeremy Darroch, the FD, moves up to CEO at Sky.

Rupert Murdoch said: “This is the right time to align our operations in Europe and Asia under new, structured group leadership.”

“The team at Sky has demonstrated the success that can be achieved with an appetite for change and a single-minded focus on customers,” James Murdoch said.

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