Rupert Murdoch's media empire is shaking up the management structure, and putting son James Murdoch in a bigger job that sets him up to succeed his dad.
Here's the news: 34-year old James Murdoch was appointed head of Europe and Asia, and replacing his dad as chairman of BSkyB, where until now he was CEO. So, yeah, James is really young, but his experience sets him up for this job quite well.
He turned around Asia's Star Television and in 2003 become a director at British Sky Broadcasting, turning it around as well. He grew revenue by 40 percent and broadened the company from pure play satellite TV to offer a triple play including broadband and phone service.
He quickly proved that he wasn't just there because of nepotism. He's also considered a really forward thinker--he's very green, making BSkyB an environmental leader in that it's entirely carbon neutral.
He's also credited for turning Rupert onto the value of Internet companies when he urged him to buy a web company back in 1997. (He didn't end up buying it, but the fact that News Corp is so web-savvy and owns MySpace says something).
What about Rupert's oldest son, Lachlan? I talked to him at the Allen & Co. conference in Sun Valley this summer and he seemed perfectly happy to be doing the entrepreneurial thing (he runs an Internet company out of Australia.)