Will News Corp.'s President Jump Ship?

In a town that loves a hot rumor, the latest Hollywood gossip is that Peter Chernin, Rupert Murdoch's second-in-command for the last 12 years at News Corp. (NWS), might be leaving the company sometime this year. His contract expires on June 30, and both Murdoch and Chernin have been tight-lipped about the progress they've been making on extending his 2004 deal.

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