Succession Plans Emerging at News Corp.

Rupert Murdoch's younger son James is to return to News Corp. to head its Asian and European operations, securing his position to eventually take over the global media empire, reports Reuters.

Murdoch, 34, will become chairman and CEO of Europe and Asia at News Corp., taking charge of its broadcasting, print and Internet divisions including Hong Kong-based Star TV, Britain's Sun newspaper and Sky Italia. He will rejoin the News Corp. board and step down as chief executive of Britain's pay-TV firm BSkyB.

He will remain with BSkyB as non-executive chairman, replacing his 76-year-old father, Rupert. BSkyB Finance Director Jeremy Darroch will become CEO.

James Murdoch, whose appointment is effective immediately, will be based in London and report to Peter Chernin, News Corp. president and CEO.