March 26, 2014 |
Media mogul Rupert Murdoch has made dramatic changes that position his two sons to ultimately take over the global media empire that Murdoch has spent most of his life building. Murdoch's eldest son, Lachlan, has been given an influential role as non-executive co-chairman of both companies: News Corp. and 21st Century Fox. The move puts Lachlan, 42, second in line behind his father in the corporate structure of the media empire. Lachlan, who has been running a television business in Australia, had left his senior role within the company in 2005 after being marginalized in a power struggle.
March 26, 2014 |
His older son, Lachlan, quit a top executive job in the company and retreated to Australia. His second son, James, was battered by the British phone hacking scandal. Some analysts figured Rupert Murdoch's long-held ambition to leave his vast worldwide empire in the hands of a Murdoch would never happen. But with one bold stroke Wednesday, the 83-year-old Murdoch cemented a new leadership structure that ensures his two sons will be in charge of his two media companies long after he is gone.
February 20, 2014 |
LONDON -- A London court acquitted former newspaper executive Rebekah Brooks on one of the five charges she faces in Britain's high-profile trial of seven former senior staff members and journalists from Rupert Murdoch's News Corp. on charges related to an extensive phone hacking scandal. Brooks was acquitted on a count of misconduct tied to charges that she paid $6,000 in 2006 for a photograph of Prince William dressed in a bikini at a party to be published in the Sun, a Murdoch-owned tabloid she edited at the time.
February 6, 2014 |
Rupert Murdoch's publishing company, News Corp., beat analysts' profit estimates even though advertising revenue continued to fall. News Corp. -- which includes the Wall Street Journal, New York Post, Times of London and HarperCollins book publishing -- released its fiscal second-quarter earnings late Thursday. It was the second earnings report at the company since it became a stand-alone entity at the end of June. "Direct comparables are awkward because the company, in its present form, did not exist a year ago," News Corp.
January 8, 2014 |
Nearly a decade after Rupert Murdoch moved his company's corporate headquarters to New York from his native Australia, his television and film company is moving to withdraw almost completely from Australia. 21st Century Fox announced late Wednesday that it taking steps to remove its shares from trading on the Australian Securities Exchange. The move -- which is subject to the approval of Fox Class B common stockholders -- would mean that Fox shares would solely be listed on the Nasdaq Stock Market in the U.S. Currently, Fox shares trade on the two separate exchanges. ON LOCATION: Where the cameras roll “Today's announcement is part of our ongoing agenda to simplify the operating and capital structure of our company,” Murdoch, chairman and chief executive of 21st Century Fox, said in a statement.
December 20, 2013 |
Rupert Murdoch's publishing company News Corp. has acquired Storyful, a start-up that finds, verifies and distributes news and videos from social media sites, to boost its online and video efforts. The New York-based News Corp., which owns publications including the Wall Street Journal, the New York Post and the Sun, bought the Dublin, Ireland-headquartered Storyful for about $25 million, the company said on Friday. Storyful, which calls...