×
You will be redirected back to your article in seconds

Court of St. James

BSkyB investor won't nix Murdoch scion

LONDON — In a surprise move, BSkyB investor the National Assn. of Pension Funds won’t oppose James Murdoch as the new chief executive of the U.K. satcaster.

The declaration comes a week after the Assn. of British Insurers, another BSkyB shareholder, raised concerns about Rupert Murdoch’s youngest son being parachuted in to replace outgoing chief exec Tony Ball.

Murdoch pere, chairman of the paybox, wants the job to go to James, and as 35% shareholder has a powerful say in the outcome. But the ABI worries that if James gets the top job, he might put parent company News Corp.’s interests ahead of BSkyB’s.

The NAPF, however, said it would not oppose his appointment despite the controversy surrounding the succession at the paybox. “(We are) not taking a view on the suitability of James Murdoch for the vacancy and believe his appointment as a non-independent non-executive director can be justified,” it said in a report compiled for members.

James now is expected to be installed as chief executive in time for the annual general meeting Nov. 14. But a shakeup of the board is expected with the possible departure of Norman St. John Stevas, the senior non-executive director and head of the nominations committee, which is leading the search for a new chief.

St. John Stevas was supposed to listen to shareholders’ concerns, but abruptly canceled a meeting to discuss whether James should be appointed chief exec. Rupert Murdoch recognizes St. John Stevas is not seen as independent enough and is likely to replace him to appease City critics who are angry at the way in which James was going to be named chief executive.

More Biz

  • 'Blurred Lines' Suit Ends With $5

    'Blurred Lines' Suit Ends With $5 Million Judgement Against Robin Thicke, Pharrell Williams

    After five years, the legal battle over the copyright of the Robin Thicke’s 2013 hit “Blurred Lines” has ended, with Marvin Gaye’s family being awarded a final judgment of nearly $5 million against the song’s primary writers, Robin Thicke and Pharrell Williams, according to CNN and other reports. The pair were accused of copyright infringement [...]

  • WME Veteran Ari Greenburg Promoted to

    WME Veteran Ari Greenburg Promoted to President of Talent Agency

    WME veteran Ari Greenburg, one of the original Endeavor staffers who helped build the talent agency that became an industry powerhouse, has been promoted to president. Greenburg will oversee all daily operations across WME and its offices in Beverly Hills, New York, Nashville, London and Sydney. The promotion recognizes the role that Greenburg has played [...]

  • Alison Wenham Steps Down as CEO

    Alison Wenham Steps Down as CEO of WIN

    After 12 years at the helm of the Worldwide Independent Network, a global trade organization for the independent music industry, Alison Wenham is stepping down as Chief Executive, it was announced today. Prior to joining WIN full time in 2016 Alison was CEO of The Association of Independent Music (AIM), which she started in 1999. [...]

  • Leslie Moonves

    Leslie Moonves Quietly Exits AFI and Paley Center Boards

    Leslie Moonves, the ousted CEO of CBS Corp. who has been accused of sexual misconduct by several women, is no longer serving on the boards of trustees of the American Film Institute and the Paley Center for Media. For now, Moonves retains his seat on the board of gaming company ZeniMax Media. The appointments on [...]

  • DOJ Indicts Five in Piracy Ring

    Department of Justice Indicts Five in International Piracy Ring

    Five men were indicted Wednesday on charges that they hacked into the servers of production companies, and stole hundreds of films and TV shows, including “50 Shades of Grey” and “The Walking Dead.” The men are based in four countries — the United Kingdom, the United Arab Emirates, Malaysia, and India. Only one has been [...]

  • Endeavor Sued Over Idaho Country Music

    Endeavor Sued Over Idaho Country Music Festival

    A former county official in rural Idaho sued Endeavor on Wednesday, alleging she is owed more than $190,000 in unpaid loans arising from a troubled country music festival. According to her complaint, Bonnie Layton was the economic development director for Elmore County, Idaho, when she came in contact with the organizers of the Mountain Home [...]

More From Our Brands

Access exclusive content