Nov. 7 (Bloomberg) -- News Corp. Chairman Rupert Murdoch said he’d like one of his children to succeed him, amid regular discussions about who will take over at the U.S. media company.

“I am sure one of them will emerge,” Murdoch, 78, said in an interview with Sky News broadcast in Australia today. “It would be nice. Every parent likes to see that.”

A committee discusses succession at New York-based News Corp., owner of the Twentieth Century Fox film studio, every three or four months, he said. His family, with about 40 percent of the voting rights, will “have a lot of say,” he said.

News Corp. President Peter Chernin stepped down this year as Murdoch’s second-in-command, and Murdoch said in the interview that he won’t “keep going and going.” James Murdoch, seen by some investors as next in line to succeed his father, leads News Corp.’s European and Asian operations.

The elder Murdoch said in June that he’d made no commitment to make Chase Carey, the chief operating officer and deputy chairman, his successor. He called Carey his “partner and right hand,” leaving room for the positioning of one of his children to assume the top job.

Murdoch has six children, including Prudence, Lachlan, James and Elisabeth from his first two marriages. He also has two young daughters with Wendi Deng, a former executive from his Asia Star TV whom he married in 1999.

Lachlan Murdoch

“When I start to lose it my kids will be telling me about it,” Murdoch said in the interview, when asked how long he would continue in the role.

Lachlan Murdoch, the eldest son, unexpectedly quit as chief operating officer of News Corp. in July 2005 and moved to Australia with his wife Sarah and son Kalan.

“I hope he’ll come back one day,” said Murdoch. Lachlan this week paid A$23 million ($21 million) to buy France’s former consulate in Sydney’s eastern suburbs, setting an Australian auction record for a single house.

Born in Melbourne, Rupert Murdoch built News Corp. into a global media company with assets including Fox News, the Wall Street Journal and the MySpace social-networking Web site, after inheriting Adelaide newspaper assets from his father, Keith.

Murdoch, who this week raised News Corp.’s full-year forecast after reporting an 11 percent increase in first-quarter profit, said in the interview the subscription model for the company’s Wall Street Journal Web site “may be” rolled out to other sites.

‘Take It Slowly’

Users might read the first paragraph of stories for free online, and then be charged to see more, he said.

“We’ll take that slowly,” he said. “It costs us a lot of money to put together good newspapers and good content, and they’re very happy to pay for it when they buy a newspaper. When they read it elsewhere, they’re going to have to pay. Not huge sums. You’d be surprised how much can be done how cheaply.”

Murdoch is seeking to be paid more for content as income from advertisers drops. Industry-wide ad sales plunged 29 percent in the first six months of this year, Newspaper Association of America data show. Murdoch is also asking for retransmission fees from television providers that carry the New Corp.’s Fox broadcast network.

Still, Murdoch didn’t call an end to the newspaper business. They will be around for at least another 20 years, he said.

“There are no news Web sites anywhere in the world that make serious money,” he said in the Sky News interview. “There’s not enough advertising in the world to make all the Web sites profitable.”

News Corp. and its subsidiaries, including Dow Jones, compete with Bloomberg LP, the parent of Bloomberg News, in providing financial news and information.

Last Updated: November 6, 2009 20:40 EST