In an interview in Newsweek, Mr Murdoch said his three children - aged between 26 and 31 - will not be ready to take his place soon.
Mr Murdoch's children are often depicted as sibling rivals for corporate power in the press. Elisabeth, 31, helps to run BSkyB in London, Lachlan, 27, works for his father in Australia and New York, whereJames also works for the company. "They all have to prove themselves first," the 68-year- old Mr Murdoch told Newsweek. "It would certainly be a matter for the [News Corp] board. I would think Peter would probably be the CEO. Maybe my older son would become chairman." The company owns News International in London, which publishes The Times and The Sunday Times. The Murdoch "succession" has been further complicated by Mr Murdoch's marriage last month to Wendy Deng, 31.
Mr Chernin is highly regarded for helping focus the sprawling Fox Group, Newsweek said. He also helped to make its film and TV business more profitable, not least by giving the green light to Titanic.