In what was largely seen as a major step in a transfer of power between father and son, James Murdoch, the younger son of Rupert Murdoch, has been named head of News Corp's Asian and European operations, a move that will put him in charge of most of its overseas broadcasting, print and Internet divisions. He will step down as CEO of Britain's BSkyB satellite TV service but replace his father as chairman. BSkyB's finance director, Jeremy Darroch, will take over as its new CEO.