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Reports are streaming out over what the President and COO of News Corp. Peter Chernin is thinking of doing as his contract comes to an end. The man has been in the business for more than a decade and has played a vital role in transforming Murdoch’s media empire into a global brand. But presently he stands at the crossroads with two choices; to extend his contract for a couple of more years or roll over uncertainty with a new job. There has been no word whatsoever from the man himself, however many seniors at office think that he might extend his contract for another two or three years.