Biography: Lachlan Murdoch

Lachlan Murdoch, seen as the heir apparent to his 74-year-old father Rupert as head of News Corp., quit the global media giant because he is tired of New York and traveling, an Australian newspaper said on Saturday.

Murdoch's surprise decision to resign as News Corp.'s deputy chief operating officer and publisher of the New York Post on Aug. 31 was announced late on Friday with no explanation.

The 33-year-old Murdoch said in a brief statement that he would return to Australia with his wife, Sarah, who is a former model and actress, and baby son, Kalan, in the near future.

"He and Sarah don't like living in New York," a News Corp. source told the Sydney Morning Herald, which is owned by rival Australian newspaper group John Fairfax Holdings Ltd.

"He's sick of all the traveling and they've recently bought a house in Bronte," the source was quoted as saying. Bronte is a beachside suburb of Sydney.

The News source said Lachlan had been negotiating with his father about a return to Sydney for most of the past year.

"Rupert is disappointed and has been trying to persuade him to stay by saying there is no job for him in Australia. He's decided it's time to go back," the source was reported as saying.

The paper said Lachlan had told friends that he may seek an executive role at another company or start his own business venture.

He will remain on the board of News Corp.

Lachlan joined News Corp. in Sydney in 1994 and served in various roles, including cleaning newspaper printing presses.

News Ltd. newspapers in Australia, including The Australian and Sydney's Daily Telegraph, shed no light on his motivation.

The move put the spotlight on Peter Chernin, News Corp.'s chief operating officer, as a CEO candidate. It also could set up Lachlan's 32-year-old brother, James, the CEO of U.K. satellite TV broadcaster BSkyB, as the eventual successor.

News Corp, which owns the Twentieth Century Fox film studio, Britain's Times newspaper, the U.S. Fox television network and HarperCollins publishing, is also BSkyB's largest shareholder.

News Corp.'s shares fell 23 cents to close at $17.34 on Friday on the New York Stock Exchange in a sector-wide decline.

Lachlan K Murdoch's Position and Salary Director/Other Executive Officer at News Corporation Delaware Class B New York, New York SERVICES / ENTERTAINMENT - DIVERSIFIED Officer since 1999 Director since 1996

32 years old

(Age 32). Executive Director of The News Corporation Limited since 1996 and Senior Executive Vice President from 1999 to 2000. Deputy Chief Operating Officer since 2000. Executive Director of News Limited since 1995, Chairman since 1997. Director of Fox Entertainment Group, Inc. since 2002. Deputy Chairman of STAR Group since 1995. Non-executive Director of NDS Group plc since 2002. Director of Gemstar-TV Guide International, Inc. since 2001. Director of Foxtel Management Pty Limited since 1998.

Cash Compensation (FY )
Salary		$1,800,000
Bonus		$2,335,000
O  T  H  E  R	Latest FY other short-term comp.	$0
	Latest FY other long-term comp.	$419,000
	Latest FY long-term incentive payout	$0
Total		$4,554,000

Stock Options (FY )
Number of options		Market value
exercised	n/a	n/a
unexercised	n/a	n/a
unexercisable	n/a	n/a
Total	n/a	n/a

(Source: Forbes/Photo: Agencies)