It's not clear what Chase Carey is thinking: The DirecTV CEO is poised to become vice chairman at Rupert Murdoch's smaller News Corp., where he has virtually no shot at the top job.

Nevertheless, the reports in The Wrap and Variety say it's true: Carey is apparently close to a deal to become vice chairman at News Corp., replacing longtime number two Peter Chernin, who left the media conglomerate back in February. Murdoch's son James had long been considered the odds-on favorite for Chernin's job.

Murdoch is still widely expected to pass control of News Corp. to one of his children, giving Carey a limited future at the company. His work is also likely to be constrained by the direct lines of control Murdoch has established at News Corp. in the wake of Chernin's departure. Murdoch's involvement is now sufficiently extensive that the chairman was expected to personally screen new shows for Fox TV this past spring.

If things don't work out with Murdoch, Carey will can always fall back on his role as the Pringles mascot, as Seth Abrmovitch notes over at Movieline. After all, the tasty snacks can officially be called "chips" now, making the Procter & Gamble brand more respectable than ever.