Reply #4: Rupert Murdoch's son quits News Corp post

[Dover]

Rupert Murdoch's son quits News Corp post

By Kenneth Li
Reuters
Friday, July 29, 2005; 1:56 PM

NEW YORK (Reuters) - Lachlan Murdoch, who was viewed as the front-runner to succeed his 74-year-old father Rupert as News Corp.'s chief, abruptly resigned from the global media conglomerate on Friday without explanation.

Left unanswered was why Murdoch, 33, will step down as deputy chief operating officer at News Corp. <NWS.N><NWS.AX> and publisher of the New York Post on Aug. 31, and who Rupert Murdoch's successor would be.

While Murdoch will remain on the board of the New York- based News Corp., he said in a brief statement that he would return to Australia with his family in the near future.

"I would like especially to thank my father for all he has taught me in business and in life. It is now time for me to apply those lessons to the next phase of my career," he said.

News Corp. gave no reason why the heir apparent as chief executive resigned, or what he plans to do when he returns to Sydney.

Wall Street and associates close to the family were equally perplexed...cont'd

http://www.washingtonpost.com/wp-dyn/content/article/2005/07/29/AR2005072900480_pf.html