News Corp. Executive Chairman Rupert Murdoch and Lachlan Murdoch

News Corp. Executive Chairman Rupert Murdoch and Lachlan Murdoch

Daniel Acker/Bloomberg

News Corp. Executive Chairman Rupert Murdoch, left, walks with his son Lachlan Murdoch, while arriving for a morning session during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Thursday, July 11, 2013. News Corp. said today it named Lachlan Murdoch as non-executive co-chairman.