04/02/2009 05:12 am ET Updated May 25, 2011

James Murdoch, Heir Apparent? News Corp Execs Think So

News Corporation chairman and chief executive Rupert Murdoch is planning to relinquish substantial powers to son James and for him to take a major role in the US, leaving Sun editor Rebekah Wade to assume greater control of the media group's UK operation.

Senior figures at the company's UK operation believe this to be Murdoch's long-standing plan for the senior News Corp management succession.

A management shakeup was expected following the announcement last week that Murdoch's right-hand man, Peter Chernin, would step down as chief operating officer and president of News Corp when his contract expires at the end of June, ending a 20-year career with the company.

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