News Corporation tycoon Rupert Murdoch’s eldest son Lachlan says he has no intention of rejoining his father’s global media empire, telling Australian newspapers he has “moved on”.
The tycoon’s plans, approved last month, to split his sprawling worldwide firm into separate media and entertainment entities fuelled speculation Lachlan, 41, would re-enter the fray.
Formerly News Corp’s deputy chief operating officer, Lachlan Murdoch abruptly resigned from the company in 2005 after clashing with executives, though he has remained on the board.
He had long been regarded as heir-apparent to the Murdoch empire, and his father’s decision not to head the newly spun-off print division of News Corp triggered talk it could be a re-entry opportunity for his son.
But Lachlan Murdoch doused the speculation, denying he had any plans to rejoin the corporation’s executive ranks.
“No, no. I’ve moved on from that,” he told the Australian Financial Review Thursday.
He was upbeat on the News demerger, scheduled for June 28, saying it was “reflecting well for shareholders and the stock price has, I think, reflected that”.
Lachlan Murdoch has significant media clout of his own in his father’s native Australia, chairing the commercial Ten television network and DMG Radio.