Murdoch confirms News Corp shakeup

The News Corporation chairman and chief executive, Rupert Murdoch, confirmed today he had appointed his "uniquely qualified" son James as the chairman and chief executive of the company in Europe and Asia.
Murdoch also confirmed overnight reports that his "lifetime colleague" and chief UK newspaper lieutenant, Les Hinton, is to be the chief executive of Dow Jones, the New York-based publisher of the Wall Street Journal.

James will step down as BSkyB chief executive after four years and replace his father as the UK satellite broadcaster's non-executive chairman.The Sky chief financial officer, Jeremy Darroch, replaces James as the company's chief executive. News Corp is the largest shareholder in Sky.
Times editor Robert Thomson's move to New York to become publisher of the Wall Street Journal when it completes the $5bn acquisition of Dow Jones is expected to be confirmed later today, with insiders saying the paper's business editor, James Harding, will be announced as his successor.

"James is a talented and proven executive with a rare blend of international perspective and deep, hands-on experience in improving operational results," Murdoch said of his son, who with this move has effectively been annointed as the News Corp founder's heir apparent.
"He has transformed Sky, which is now not only Europe's most valuable television company, but also the fastest growing challenger in the much larger UK marketplace for entertainment, broadband and telephony.

"His experience at Sky, combined with his track record in Asia while running Star, and prior roles, make him uniquely qualified to take forward these exciting businesses that have grown so much over the last decade."
James Murdoch will take direct responsibility for all of News Corporation's television, newspaper and related digital assets in Europe, Asia and the Middle East.
These include BSkyB, in which News Corp is the biggest shareholder and News International - publisher of the Times, the Sunday Times, News of the World - and pay-TV broadcasters Sky Italia and Star TV.
James will report to Peter Chernin, the News Corp chief operating officer, and take over from his father as non-executive chairman of BSkyB. He will also rejoin the News Corp board of directors.

"News Corporation is the world's most global media company, made up of extraordinary and committed individuals that I am privileged to be joining," James Murdoch said.
"Media is fundamentally a business of ideas where top-quality, professional journalism and creative entertainment have an extremely bright future - significant value can be created by focusing on pace,execution and taking advantage of the sea change we are seeing in media."
Hinton, the executive chairman of News International, will become the chief executive of Dow Jones when the acquisition is completed on Wednesday. He replaces Richard Zannino, who said he was leaving the company.

"Les is one of the most respected executives in the media industry," Murdoch said.
"He's been a lifetime colleague and I've relied on his leadership and vision for decades. He has a great record of introducing innovations that have been replicated by other newspaper companies around the world.

"I have every confidence that his energy, dedication and foresight will enable Dow Jones and the Wall Street Journal to reach their full potential as the leading financial information source globally."
Hinton added: "Dow Jones and The Wall Street Journal have a great history and a great future. It is thrilling to have the opportunity to play a part in shaping them to adapt and thrive in the years ahead."

He has spent his entire career at News Corporation has run News International since 1995.
Hinton joined the company as a reporter for the Adelaide News and worked as a journalist and executive in Australia, the US and the United Kingdom.
He worked in the United States for 20 years, first as a correspondent later as an executive in the company's publishing and Fox television divisions.