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Murdoch hopes next generation will succeed him at News Corp

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.
 
In an interview with Sky News Australia, Murdoch said: "I am sure one of them will emerge. It would be nice, every parent wants to see that." The family is in control of 40% of the voting rights for the business and, according to Murdoch, has regular succession meetings.
 
He also put faith in his children to let him know when it was time to step aside. "When I start to lose it my kids will be telling me about it," he said.
 
Murdoch (pictured) has six children from three marriages. His son James Murdoch, 36, has run News Corp's European and Asian operations since 2007 (click here to read our coverage of his promotion) and is the most senior family member in the business.
 
Lachlan Murdoch, the eldest son, had served as chief operating officer of the family business but left in 2005 to start his own media company Illyria. He retains a seat on the News Crop board and caused headlines in the Australian news on Friday when he paid $21 million for a six-bedroom mansion in Sydney's eastern suburbs.
 
Rupert Murdoch began building his media empire in 1953 with the Adelaide News. The company now owns the Twentieth Century Fox film studio, US-newspaper the Wall Street Journal and the UK-daily The Times, along with various other assets, and had 2008/2009 revenues of $30 billion.

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