Murdoch Daughter to Quit Job for Own Venture

Elisabeth Murdoch, the daughter of media tycoon Rupert Murdoch, announced Wednesday that she will leave the satellite TV operation British Sky Broadcasting this summer to set up her own company.

The move is widely seen as a response to speculation that her father is positioning her brother, Lachlan, as his heir apparent. Rupert Murdoch’s two sons, Lachlan and James, also are involved in the family business. Murdoch has said he has no plans to retire as chairman and chief executive officer of News Corp.

A statement on BSkyB’s Web site said Elisabeth Murdoch would step down in June as managing director of Sky Networks, in which her father’s News Corp. owns a 40% stake, to set up her own British-based company specializing in television, film and new media programs.

“At Sky, I have had the privilege of working with some of the best television executives around and it is with some lament that I leave such a winning team,” Murdoch said in the statement. “However, now is a great time to pursue something that I have been thinking about for some time.”

It was not immediately clear whether her father would have any connection to the new venture.

Murdoch joined BSkyB in 1996 and had overall responsibility for its programming business. She is on the board of British Sky Broadcasting Group and the executive committee of News Corp.