James Murdoch working to prove himself as a potential successor

James Murdoch, the son of 79-year-old News Corp. chairman and CEO Rupert Murdoch, is the leading contender to succeed his father,

a Bloomberg News profile noted.

The younger Murdoch, 37, has worked at the company for 14 years and is based in London.

Shahid Kahn of MediaMorph Inc., a digital media tracking service, told Bloomberg:

“James Murdoch has been doing things to prove himself beyond his father’s shadow. He’s been determined to show that he’s his own man.”

The article noted that no decision has been made on the next News Corp. CEO. “Alternative candidates, such as Chief Operating Officer Chase Carey, may prove more palatable to the board if a decision must be made in the near future…,” the Bloomberg report said.

Murdoch the son has taken on a role at News Corp. very different from his father’s, according to analysts and people who have worked with him. He’s become the pragmatic operator and the realistic strategist to complement his father’s grand — and sometimes quixotic — vision. He tunes up operations, culls ancillary units and steeps himself in new technologies to help ensure the company his father has built continues to flourish long after the elder Murdoch is gone.

The article noted that at News Corp.’s Oct. 15 annual meeting, Rupert Murdoch said he has no plans to retire. According to the report, the Murdoch family trust controls 38% of the company’s shares.

James Murdoch’s older brother, Lachlan, 39, serves on News Corp.’s board, though he left his position as deputy chief operating officer in 2005. Sister Elisabeth, 42, left the company in 2000. Rupert Murdoch also has two daughters, ages seven and eight, with his current wife, Wendi Deng, the article said. (Source: Bloomberg, Oct. 22, 2010.)