Murdoch names son Lachlan as VP of media empire

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Rupert Murdoch said Wednesday he had promoted his son Lachlan to be vice president of the two companies that make up his media empire.

Those companies are News Corp. and the TV and film producer 21st Century Fox.

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For years speculation had been rife over which of the six children of the 83-year-old magnate would take over for him.

Murdoch did not totally clarify his intentions, as he promoted another of his sons, James, to be co-director of operations at 21st Century Fox.