The Media Drop

Hollywood Reporter’s Georg Szalai reports Friday that News Corporation has re-signed its president and CEO, Peter Chernin, for five more years. In June, there was speculation that Chernin might leave the conglomerate should a “better offer” - such as the top job at Disney - came available. This leaves the man at the helm of News Corp., Rupert Murdoch, with a solid succession plan should he leave the position in the next few years. As previously reported, the long term plan is for one of Murdoch’s sons, Lachlan or James (or some combination of both), to run the company at some point. Keeping Chernin on allows for a solid transition to that eventual point, and allows the younger Murdochs to continue growing their already established business acumen.