Is Rupert Murdoch’s number two man at New Corp. departing? The LAT reports that Peter Chernin, who is credited with “the company’s smooth operations” and who has been in contract negotiations with Rupe for months may leave the company when his contract expires on June 30.
Chernin has been tight-lipped about his plans. Some analysts view the situation — and the domino effect in management his departure could trigger — with alarm.
“While Chernin has not signaled his intent, we fear the longer time goes by, the less likely he is to renew his contract,” Pali Research analyst Richard Greenfield wrote in a recent report. “Chernin’s departure would raise significant investor concern and could lead to other management changes at News Corp.”
Apart from the terrible timing of the departure, should that happen, there appears to be some question as to whether Murdoch’s children are prepared to lead the company.