London, March 26 (Reuters): Rupert Murdoch has brought eldest son Lachlan back into the leadership of his media empire and promoted younger son James, setting them up to succeed him when the 83-year-old tycoon finally steps down.
Lachlan, 42, will become non-executive co-chairman of both entertainment group 21st Century Fox and publishing company News Corp — sharing both roles with his father.
James, 41, will become Fox’s co-chief operating officer alongside long-time Murdoch stalwart Chase Carey, the latest step in his come back after he was forced to relinquish some roles during a phone hacking scandal in Britain.
Both sons have at various times been tipped as the heir apparent to their father, and it remains to be seen whether they will be able to work together when Rupert finally hands over.
“It’s very significant,” media commentator and former Murdoch editor Roy Greenslade told Reuters. “I think it underlines the fact that it remains a family dynasty in spite of being a listed company.”