Murdoch companies name son Lachlan co-chairman

(Rupert Murdoch's son Lachlan will become nonexecutive co-chairman of both 21st Century Fox and News Corp., two companies controlled by the father.

Murdoch's other son, James, also is being named co-chief operating officer of 21st Century Fox, a TV and movie company that was separated from the publishing company News Corp. last June.

Rupert Murdoch is chairman and CEO of 21st Century Fox and executive chairman of News Corp.

The 42-year-old Lachlan Murdoch and 41-year-old James serve as directors of News Corp. and 21st Century Fox.

21st Century Fox also says that Fox Networks Group Chairman and CEO Peter Rice is extending his employment agreement.