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Younger Murdoch rises at News Corp.

Lachlan Murdoch continues to move rapidly up the management ranks at News Corp. Thursday the company said the 29-year-old son of News Corp. Chairman Rupert Murdoch has been promoted to deputy chief operating officer of the corporation.

That makes him the third highest-ranking officer behind his father and Peter Chernin, News Corp.'s president and chief operating officer. Lachlan Murdoch's latest promotion follows the shift of Chase Carey, former co-chief operating officer of News Corp., to the CEO slot at Sky Global Networks. Up to now, Lachlan has been responsible for many of News Corp.'s print publishing operations.