News24

Murdoch son to head Australian network

2012-02-10 13:44

Sydney - Rupert Murdoch's eldest son Lachlan was on Friday appointed chairperson of commercial broadcaster Network Ten as it looks to make inroads on its key Australian rivals.

Ten is Australia's third-ranked commercial network, behind Seven and Nine, and Murdoch has been promoted from an interim chief executive role having overseen a cost-cutting exercise at the company since his appointment in late 2010.

He replaces Brian Long, who becomes deputy chairperson and lead independent director.

"I look forward to working with the board and our new CEO to re-shape Ten and to improve its performance for the benefit of all shareholders," Murdoch, who owns 8.9% of the broadcaster, said in a statement.

Former Seven executive James Warburton has been poached to become Ten's chief executive.

The move is the latest shake-up at Ten since Murdoch, casino mogul James Packer and mining billionaire Gina Rinehart, who last week increased her holding in Australian media giant Fairfax, took stakes in 2010.

Lachlan Murdoch sits on the board of directors of his father's News Corporation empire, but does not play an active role in the company.