Peter Chernin, News Corp's president and COO since 1996, will leave the company when his contract expires in June. The news broke on the heels of the Academy Award romp by Fox Searchlight release "Slumdog Millionaire." The move set off a wave of speculation as to whether one of Murdoch's sons, James or Lachlan, would take over Chernin's portfolio. Chernin's contract provides for him to produce films for Fox for six more years.
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