BEIJING, Aug. 2 -- Lachlan Murdoch, son of News Corp.'s chairman Rupert Murdoch and heir apparent at the fourth-largest U.S. media company, unexpectedly quit the media giant.

   

Lachlan Murdoch, son of News Corp.'s chairman Murdoch unexpectedly quit the media giant.

Murdoch's surprise decision to resign as News Corp's deputy chief operating officer and publisher of the New York Post on 31 August was announced last Friday with no explanation. The 33-year-old Murdoch said in a brief statement that he would return to Australia with his wife and son.

    News sources say the depth of the break between son and father is signalled by Lachlan's determination to move not just out of News Corp but out of the media business as well, with plans to work in an unrelated field in Australia.

    Lachlan's record in the 11 years since he began working in the family business includes significant successes. Earnings for Fox television stations in the United States which he has run since January 2002, have been solid, while circulation at the New York Post, where he is publisher, has soared to 678,000, though the paper is said to be costing News US$70 million (NZ$102 million) a year.

    In Australia, Lachlan made significant profits from selling out of AAPT and Vodafone, and walked away with A$580 million (NZ$644 million) from selling Ansett a year before the airline collapsed.

    His decision to leave the family business will have little impact on the giant media company News Corp. While he was the heir apparent, analysts and investors say there's a wealth of talent to replace him.

    The departure leaves Lachlan's brother James as the sole family member in the running to succeed their father, who turned 74 in March.

    James, 32, Rupert Murdoch's youngest son, is CEO of London-based British Sky Broadcasting, a British pay-television company.

    (Agencies)