The award, to be handed out on June 22 during the Press, Outdoor and Cyber Lions Awards ceremony, has been made in recognition of his development of the media giant's "internationally diverse media sectors", according to festival chief executive officer Terry Savage.
In his role at News Corp, Murdoch directly manages subsidiary businesses that generate around two-thirds of total revenue. This includes publishing giant HarperCollins, Australian operations parent company News Limited, freestanding inserts business News America Marketing and the New York Post. He is also chairman of News Corporation's US television station group.
Judges were particularly impressed with his management of the New York Post, which has increased its daily circulation by more than 40% under his tenure.
Murdoch, who has been a board member of News Corporation since 1996 and is son of the firm's chairman Rupert, said: "I of course share the award with my colleagues at News Corp, whose energy and creativity are the true strength of our company. It is extremely gratifying that our efforts are appreciated by those in the worldwide advertising community, whose support is so central to our success."
Two years ago, he came to the aid of his brother James, who was appointed chief executive officer at BSkyB, despite resistence from shareholders and accusations of nepotism.
Last year's award was given to Arnaud Lagardere, chairman and chief executive of French media giant Lagardere Group.
Pic: Tamara Beckwith
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