Murdoch has no plans to retire, successor not named

Rupert Murdoch, 72, has said he has no intention of stepping down as head of his News Corp global media empire.

He made his remarks at a two-hour shareholder meeting.

Last month Murdoch celebrated his 50th year at the helm of the company he built up from a single newspaper into a group spanning satellite television, broadcast television, movie production and newspapers across the Americas, Asia, Australia and Europe.

Murdoch's youngest son James was controversially touted as the lead candidate for the top job at Britain's BSkyB, fuelling speculation about his possible successor.

Murdoch said any decision on the job would not be based on his family's shareholding in the company and the best candidate would get the job.

The suggestion that Murdoch could install his son to head BSkyB worried shareholders that the company would lose its independence.

Investors also questioned whether 30-year-old James, who took the group's Hong Kong-based Star TV to its first operating profit last year, had enough experience.