Reshuffle For Murdochs' Key Media Players

Media mogul Rupert Murdoch has stepped down as Chairman of BSkyB. His son, James - Chief Executive Officer since November 2003 - will replace him as Non-Executive Chairman.

James will take responsibility for the strategic and operational development of News Corporation's UK newspapers, including the Times, the Sun and Asian satellite TV arm, Star TV. News Corp is the largest shareholder in Sky.

James will report to Peter Chernin, the News Corp Chief Operating Officer.

The new Chief Executive Officer of the company will be Jeremy Darroch, former Chief Financial Officer.

Nicholas Ferguson, Sky's Senior Independent Non-Executive Director commented on the shake-up: "With these changes, the board has taken action to ensure continuity of world-class leadership at Sky."

James Murdoch said: "News Corporation is the world's most global media company, made up of extraordinary and committed individuals that I am privileged to be joining.

"The team at Sky has demonstrated the success that can be achieved with an appetite for change and a single-minded focus on customers.

"I am pleased to have the opportunity to become Non-Executive Chairman and I look forward to supporting Jeremy in his role as Chief Executive."

Rupert Murdoch said that James and Jeremy formed "an accomplished leadership" and commented: "I am confident that James and Jeremy and their colleagues will continue to set the pace in our industry."

Murdoch said of his son: "James is a talented and proven executive with a rare blend of international perspective and deep, hands-on experience in improving operational results.

"He has transformed Sky, which is 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."

News Corp has also announced that Les Hinton, Executive Chairman of UK based News International, will become Chief Executive of Dow Jones & Co, the publisher of the Wall Street Journal.

Times Editor, Robert Thomson will become publisher for the Wall Street Journal, once the $5 billion acquisition of Dow Jones is completed.

BSkyB continues to enjoy considerable success and has added 83,000 new subscribers in its first quarter from July 2007 and increased revenues by 11%.

(DS)