LOS ANGELES -- Former Warner Bros. executive Bob Daly was hired Thursday as chairman of the slumping Los Angeles Dodgers and vowed to return the team to glory.

	Bob Daly is believed to be 10 percent owner of the team.

He also bought a minority stake in the team, although that still must be approved by Major League Baseball. The announcement was made by Peter Chernin, president and CEO of Rupert Murdoch's News. Corp., which owns the Dodgers.

"Not only is my heart in this, but so is my wallet," said Daly, who also will serve as the Dodgers' chief executive officer and managing partner and will oversee all operations.

Terms of the deal were not announced, but it is believed Daly is buying 10 percent of the Dodgers for about $30 million.

"We are extremely lucky to have Bob Daly taking the helm for the Dodger organization with a mandate to return the team to excellence," Chernin said. "He brings to the organization remarkable, proven skills as a business executive and a deeply held passion for the Dodgers."

Daly, 62, and Terry Semel announced in July they were quitting as chairmen and co-chief executives of Warner Bros. and Warner Music Group. They left the studio earlier this month. At the time, both men said they wanted to pursue new ventures, declining to elaborate.

"This opportunity to join the Dodger organization for me is a dream come true," Daly said. "It lets me combine my professional experience in building successful, topnotch organizations with my lifelong passion for the Dodgers that began as a kid growing up in Brooklyn and continues to this day.

"The Dodgers have a rich baseball heritage, and I look forward to helping the team return to the glory that Dodger fans have every right to expect."

The Fox Group, a division of Rupert Murdoch's News Corp., bought the Dodgers from Peter O'Malley's family in March 1998.

"I have a longtime friendship with Bob, and know that he is truly passionate about the Dodgers," O'Malley said. "He has a distinguished career, and I am confidence his ownership and involvement will be very positive for the organization, the fans, the community and Major League Baseball."

Daly grew up in Brooklyn, where he attended Dodgers games at Ebbets Field, developing a lifelong passion for the team before it moved to Los Angeles in 1958. He is a season ticket holder.

He tried to form a group to buy the team shortly after O'Malley put it up for sale, but never made a bid.

He and Semel, who started with the studio 20 years ago, guided the film and television division and Warner Music Group to combined revenues of an estimated $10 billion last year.

The duo's successful films include the "Lethal Weapon" and "Batman" movies, "The Killing Fields," "Driving Miss Daisy" and "Unforgiven."

The Dodgers have been underachievers since their sale to Fox. Last year, they finished 83-79 and in third place in the NL West. This year, as prohibitive favorites in the division with a $79.2 million opening-day payroll -- second highest in the majors -- they wound up 77-85 and 23 games behind first-place Arizona.