HIP HOP
The hip hop record label James began as a young man, Rawkus Records, was bought by News Corp, the company that later split into publishing arm News Corp and television and movie-making arm Fox.
The scion joined News Corp in 1996, at the age of 23. Over the years he was particularly lauded for his work as CEO of BSkyB, now known as Sky, as it became a pan-European operation.
Investors were particularly impressed with his role in spearheading Fox’s digital investments include the purchase of a 5 percent stake in Vice, the acquisition of True X, which helps broadcasters sell digital advertising and an investment in Roku, the streaming video player, sources said.
The biggest setback to his reputation likely was as head of News Corp’s British newspapers. In that role, he was criticized with failing to adequately respond when journalists at The News of the World were alleged to have illegally tapped phones and bribed officials in pursuit of stories. But a British parliamentary committee cleared James of any wrongdoing.
A big remaining question is how James will work with his brother, Lachlan, in what the source familiar with the matter described as a partnership, and whether the family will prosper without the help of a strong outsider in the executive ranks.
Well-regarded Chief Operating Officer Chase Carey is expected to step down from the role, a departure that analysts at MoffettNathanson called “unfortunate”.
Some analysts said they had been happy to have an outsider with Chase’s experience in one of the top jobs at Fox.
What’s clear, said Cowen’s Creutz, is that founder Rupert Murdoch had decided it was time to pass the baton.
“I think Rupert will have a say, but I think it is James’s company to run now,” he said.
(The story restores dropped word “who” in third paragraph and “is” in fifth paragraph)
(Writing by Peter Henderson– Editing by Christian Plumb and Ken Wills)
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