In a statement, the company said Murdoch is stepping into a newly created role in which he will collaborate “with senior leaders to develop and execute strategies and plans that strengthen and further evolve businesses, extend brands, and build new franchises.”
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Murdoch will maintain direct responsibility for News Corp.'s operations in Europe and Asia, and will continue to report to News Corp.’s Deputy Chairman, President and Chief Operating Officer, Chase Carey, while working closely with Rupert Murdoch, Chairman and CEO.
James Murdoch is Rupert Murdoch’s son.
"James has demonstrated in an array of roles that he is a shrewd and decisive operator who can deftly navigate complex issues to transform businesses. He has equally shown a unique understanding of the emerging technologies and the digital forces that are reshaping our industry," Carey said in the statement.
James Murdoch has spent the past 15 years in senior roles at News Corp., according to the statement, successfully building businesses in a number of regions, and developing a reputation for discovering underserved markets, maximizing new technologies and delivering results.
Since 2007 he has been Chairman and Chief Executive, Europe and Asia for News Corp. as well as Executive Chairman, News International. He first joined News Corp. in 1996 as an executive vice president based in New York responsible for a number of digital media ventures and corporate development projects.
News Corp. is the parent company of FOXBusiness.com.