Which Shakespeare play is about a father choosing between his children to head up his empire? News Corp. announced the mogul’s son, James Murdoch, is being promoted to deputy chief operating officer in New York, reporting directly to the company’s No. 2, Chase Carey. James Murdoch, the youngest of Rupert Murdoch's three children from his second marriage, has long been rumored to be the next in line to take over for his father, News Corp.’s chairman and chief executive. James Murdoch has been based in London since 2003 as the chief executive of BSkyB, and since 2007, he has served as chairman of BSkyB and News Corp. Europe’s chief executive. James Murdoch’s older brother, Lachlan, held the deputy COO position until Lachlan resigned in July 2005.