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Murdoch daughter resigns
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May 3, 2000: 10:10 a.m. ET
Elisabeth, scion of Rupert, steps down from media empire
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LONDON (CNNfn) - Elisabeth Murdoch resigned Wednesday from a senior executive role at BSkyB, the company founded by Rupert Murdoch and now Britain's largest pay-TV company, ending speculation that she might one day replace her father at the head of his global media empire.
Elisabeth Murdoch will leave the company at the end of June to set up her own business specializing in television, film and media content, BSkyB (BSY) said in a statement. She had been managing director of Sky Networks.
Lachlan Murdoch, Elisabeth's brother, is reported to be the media mogul's choice as his long-term successor, although Peter Cherwin - chief operating officer of News Corp., Murdoch's main holding company for his media interests -- has been earmarked as a short-term replacement. Lachlan Murdoch is chairman and chief executive of News Limited, News Corp.'s (NWS: Research, Estimates) Australian arm.
The question of a successor to head Murdoch's far-flung interests was brought into focus last month, when the 69-year-old mogul revealed he was suffering from prostate cancer.
Lachlan Murdoch's younger brother James is executive vice president of News Corp. All three of Rupert Murdoch's children have until now sat on News Corp.'s executive management committee, although the company didn't immediately say if Elisabeth would keep her post on the committee.
BSkyB stock slipped 2 percent to 1,707 pence in London Wednesday. 
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BSkyB
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