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Starboard dusts off old plan at News Corp
  + stars: | 2023-10-16 | by ( ) www.reuters.com   time to read: +2 min
A view of the signage outside the News Corporation building in New York, U.S., September 21, 2023. REUTERS/Bing Guan Acquire Licensing RightsNEW YORK, Oct 16 (Reuters Breakingviews) - Maybe it takes a pile on to move the Murdoch family’s thinking. Reuters reported on Friday that Jeff Smith’s Starboard is the latest activist to try and unlock value at News Corp (NWSA.O), the publisher of the Wall Street Journal, owner of book conglomerate HarperCollins and Realtor.com. Starboard, which took a position in the $13 billion company, is pushing for a spinoff of the real estate assets, according to the Wall Street Journal. Last year Irenic Capital Management agitated for the same transaction in reaction to the Murdochs’ desire to reunite News Corp with broadcasting company Fox (FOXA.O).
Persons: Bing Guan, Murdoch, Jeff Smith’s, pushback, Jennifer Saba, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: News Corporation, REUTERS, Reuters, News Corp, Wall Street Journal, HarperCollins, Wall Street, Capital Management, Fox, X, Thomson Locations: New York, U.S, Europe
Lachlan Murdoch and his siblings attended Dalton, a private school on Manhattan’s Upper East Side, and other elite schools, including Trinity School. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. [1/3]Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. As chief executive of Fox Corp since 2019, Lachlan Murdoch has presided over the media properties during seismic change in the industry, as viewers cut cable subscriptions in favor of streaming services.
Persons: Lachlan Murdoch, Rupert Murdoch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corp’s, Paddy Manning’s, , Lachlan, James, Dalton, Manning, Robert Deutsch, Walt Disney, Brother James Murdoch, Chris Mitchell, , James Murdoch, Kathryn, Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, Princeton, News Ltd, U.S ., New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Daily, Dominion Voting Systems, Thomson Locations: Australia, United States, London, New York, U.S, Illyria, NRG, Houston , Texas, Los Angeles
[1/3] Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. Lachlan Murdoch founded Illyria Pty, a private investment company, whose acquisitions included a network of Australian radio stations. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. While Rupert Murdoch built his legacy pursuing the television, movie and newspaper businesses with equal abandon, Lachlan’s legacy is still taking shape.
Persons: Rupert Murdoch, Lachlan Murdoch, Robert Deutsch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corporation’s, Paddy Manning’s, , Lachlan, James, Dalton, Manning, Walt Disney, Brother James Murdoch, Lachlan Murdoch doesn’t, Chris Mitchell, , Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, News, New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Dominion Voting Systems, Thomson Locations: NRG, Houston , Texas, U.S, Australia, United States, London, New York, Princeton, Illyria, Los Angeles
Rupert Murdoch announced he is stepping down as the leader of Fox and News Corp.His elder son, Lachlan, will take over both companies, ending a decades-long family drama. She quit the family business years ago. AdvertisementAdvertisementThat left Lachlan and James, who have passed the title of successor between the two of them over the decades. For much of the 2000s and 2010s, it seemed as if James would eventually take over the family business. AdvertisementAdvertisementMeanwhile, Murdoch's favorite son, Lachlan, has been a Roman Roy-esque wild card, with the same right-wing politics as the "Succession" character.
Persons: Rupert Murdoch, Lachlan, HBO's, Lachlan Murdoch, Murdoch, , Logan Roy, I'm, Murdoch's, Michael Wolff, — Elisabeth, James —, Murdoch didn't, Jonathan Mahler, Jim Rutenberg, Elisabeth, Siobhan Roy, James, Kendall Roy, Wolff, Kendall, Roman Roy, Fair's Gabriel Sherman, Lachlan weren't, Sherman Organizations: Fox, News Corp, Service, Fox Corp, Fox News, Street, New, New York Post, Fair, New York Times, Wall, Century Fox, latter's, New York Magazine Locations: Wall, Silicon, New York, Roman, Australia
Over the years, Murdoch's family has also risen into the spotlight — accompanied by stories of vindictive business tactics and inter-family rivalries. WHO IS LACHLAN MURDOCH? Lachlan has been CEO for Fox Corp. since 2019, following Disney's acquisition of 21st Century Fox. Lachlan rose to executive ranks of the family business, then known collectively as News Corp, in the 1990s and early 2000s. James Murdoch is Lachlan's younger brother, also among the children from their father's second marriage.
Persons: Rupert Murdoch, Lachlan, Murdoch, Australia —, James, Elisabeth, Prudence, ” Murdoch, LACHLAN MURDOCH, Lachlan Murdoch, Anna, , Fox's, Roger Ailes, JAMES MURDOCH, James Murdoch, James —, ” James, Murdochs, ELISABETH MURDOCH, Elisabeth Murdoch, Murdoch's, PRUDENCE MURDOCH MACLEOD, Prudence Murdoch MacLeod, Patricia, Prudence didn’t, CHLOE MURDOCH, Grace, Chloe Murdoch, Rupert Murdoch’s, Wendi Deng, Chloe, Kathryn Murdoch Organizations: — Media, Monday, Fox News, News Corp, HBO, Fox Corp, Fox, Century Fox, Fox Television, New York, CNN, Illyria Pty, WHO, News . Corp, Street Journal, Harvard University, Rawkus Records, Star India, Sky, British Sky Broadcasting, Sky Networks, Shine, Endemol, Times Newspapers, News UK, Yale University, Stanford University, AP Locations: Adelaide, Australia, U.S
The polite way to describe the legacy of a man like Rupert Murdoch is to leave aside whether his accomplishments were good or bad and simply focus on how big they were. Maybe he had “a terrible force,” as Kendall put it, but “he built, and he acted. … He made life happen.”But the polite way is exactly the wrong way to assess Mr. Murdoch, who on Thursday announced his retirement from the boards of Fox and News Corporation. Mr. Murdoch achieved nothing the polite way. Rupert Murdoch’s empire used passion and grievance as fuel and turned it into money and power.
Persons: Rupert Murdoch, Kendall Roy memorializing, Logan, Kendall, , Murdoch, Rupert Murdoch’s, pinups Organizations: HBO, Fox and News Corporation, Mr Locations:
Rupert Murdoch is stepping down as chairman of the board of both Fox Corp. and News Corp. , the companies said Thursday. Lachlan Murdoch, one of his sons, will become sole chairman of News Corp. and will continue as Fox Corp.'s executive chair and CEO. At the time, Fox had opposed having the elder Murdoch — as well as other top Fox executives — appearing in person, citing his age. Since July 2022, Murdoch had worked from his home in Montana rather than going into Fox or News Corp. offices, according to a securities filing. News Corp. owns newspapers The Wall Street Journal and New York Post, among other publications, while Fox is the parent company of right-leaning TV networks Fox News and Fox Business.
Persons: Rupert Murdoch, Murdoch, Lachlan Murdoch, , Joe Biden, Donald Trump, Murdoch's, Fox, Murdoch —, , Fox wouldn't, Tucker Carlson, Marvin Davis, Michael Wolff's, Read, Lachlan Organizations: Fox Corp, News Corp, Voting Systems, Fox News, Fox, Wall Street, New, New York Post, Fox Business, News, Century Fox, Fox News Channel, Disney Locations: Dominion, Delaware, Montana, New York, Australian, Adelaide, Australia, Britain, U.S, cahoots
A Smartmatic lawyer compared Rupert Murdoch to a "mafia boss" in a court hearing Wednesday. The company says Fox News and parent company Fox Corp. defamed it through 2020 election conspiracy theories. Rupert and Lachlan Murdoch "ordered a hit" on Smartmatic, the Smartmatic lawyer argued. Connolly made the extended analogy to argue that Fox Corp., the parent company of Fox News, shouldn't escape liability in the case. Erin Murphy, an attorney representing both Fox Corp. and Fox News, argued that it wasn't enough to show that the Murdochs were generally involved in shaping Fox News's editorial coverage.
Persons: Rupert Murdoch, Rupert, Lachlan Murdoch, Johnny, Erik Connolly, who's, doesn't, Connolly, Lachlan, Suzanne Scott, Jay Wallace, Donald Trump's, Erin Murphy, Smartmatic, Murphy, Rudy Giuliani, Sidney Powell —, Joe Biden, Trump, Jean Catuffe, David B, Cohen, Powell, Giuliani Organizations: Fox News, Fox Corp, Service, Fox, Trump, Republican, Dominion, Newsmax, New Locations: Wall, Silicon, Smartmatic, Manhattan
A story of chaotic corporate stewardship and generational conflict unfolds in the shadow of a looming actuarial certainty. A gritty reboot of “The Mary Tyler Moore Show,” you might say. In Wolff’s view, playing the saga for laughs is a risky choice: “To treat the Fox phenomenon and the Murdoch family as a cultural confection ripe for comedy,” he writes, “may be dangerously close to liberal sacrilege.”Maybe. You could also argue that laughing at Fox News — and at Donald J. Trump, the subject of Wolff’s recent best-selling trilogy and a major offstage character in “The Fall” — has been a cherished liberal pastime for years. Not that Wolff, who likes to play peekaboo with his own ideological leanings, has anything but contempt for a media mainstream (The Times very much included) that he sees as imprisoned by soggy left-leaning sentiments.
Persons: Murdoch, Michael Wolff Michael Wolff’s, Rupert Murdoch, Wolff, , , The Mary Tyler Moore, Donald J, Trump, , soggy Organizations: Fox News
Mr. Murdoch sued Crikey last August over an opinion column with the headline: “Trump is a confirmed unhinged traitor. And Murdoch is his unindicted co-conspirator.” The column did not specify whether it was referring to Mr. Murdoch or his father, Rupert Murdoch. Dominion had accused Fox of defaming it by repeatedly linking it to the false voter fraud claims in multiple broadcasts. That donation was a condition of the agreement with Mr. Murdoch. “This money was raised from the good will of people across Australia who believe in the importance of free speech,” Mr. Hayward said.
Persons: Murdoch, Crikey, “ Trump, Rupert Murdoch, Fox, Will Hayward, , Mr, Hayward, Organizations: Fox News, Dominion, Private Media, Alliance for Journalists ’ Locations: crowdfunding, Australian, Australia
Fox's top lawyer is stepping down just a few months after the company's mammoth Dominion settlement. Viet Dinh will receive a $23 million lump sum payment when he exits as chief legal officer later this year. Dinh was a key confidant of the Murdochs and is godfather to Fox Corp CEO Lachlan's son. One of Fox's most prominent lawyers and a key player in the Dominion settlement is stepping down from his influential role at the company, and will take home a $23 million exit package. Dominion sued Fox for $1.6 billion after the group's news channel raised doubts about the Dominion's voting machines following the 2020 presidential elections.
Persons: Viet Dinh, Dinh, Lachlan Murdoch, Murdoch, Dinnh, pitbull, George Bush, Fox Organizations: Fox Corp, Morning, Securities and Exchange Commission, FOX, Century Fox, Fox, Disney, Dominion Locations: Viet, Dominion, Republican
The GOP presidential hopeful's own super PAC has been blunt about his campaign's struggles. According to reports in Rolling Stone and The New York Times, Rupert Murdoch and his influential News Corp empire are souring on the governor. "They are transactional and can smell a loser a mile away," an unnamed Fox insider told Rolling Stone, referring to Rupert and Lachlan Murdoch, and top Fox News executives. You should be my governor," Fox News host Sean Hannity once beamed to DeSantis during the pandemic, The Times pointed out. These subtle shifts, Rolling Stone reported, are no accident.
Persons: Ron DeSantis, Rupert Murdoch, Stone, Rupert, Lachlan Murdoch, Glenn Youngkin, Youngkin, DeSantis, Trump, Anthony Fauci, Sean Hannity, romped, Maria Bartiromo, what's, He's Organizations: Florida Gov, The News Corp, Service, Gov, GOP, The New York Times, News Corp, Fox, Fox News, The Times, Virginia Gov, Murdoch, New York Post, Wall Street, Post, Yahoo Finance, Fox Corporation Locations: Florida, Wall, Silicon, Rolling, Virginia, DeSantis, Iowa, Wells
The Murdochs are starting to lose faith in DeSantis' chances of beating Trump, per Rolling Stone. "They are transactional and can smell a loser a mile away," a source from Fox told Rolling Stone. Ron DeSantis' chances of beating former President Donald Trump, Rolling Stone reported on Tuesday, citing sources familiar with the situation. A source from Fox told Rolling Stone that both the Murdochs and Fox News' top executives don't think DeSantis' prospects of clinching the Republican nomination are great. A senior Fox source told Rolling Stone that Rupert Murdoch's "understandable worry is that we may end up stuck with Trump anyway."
Persons: DeSantis, Rolling, Rupert Murdoch, Ron DeSantis, Donald Trump, Rolling Stone, Stone, Rupert Murdoch's, he's, Doug Heye, Ron DeSanctimonious Organizations: Trump, Fox, Service, Florida Gov, Rolling, Fox News, Republican National Committee, Stone, Twitter, Gov, Republican Locations: Wall, Silicon, Florida
She later accused Fox News CEO Suzanne Scott of being complicit in the alleged coercion and claimed Fox’s lawyers deleted messages from her phone. Grossberg also made a number of eye-popping allegations about the workplace environment at Fox News, accusing the network of rampant sexism. Fox News previously said that Grossberg’s lawsuit was “riddled with false allegations.” The network repeatedly insisted that its lawyers always acted appropriately. Regardless, Grossberg’s eleventh-hour lawsuit unquestionably changed the course of Dominion’s case against Fox News, which ultimately settled for an unprecedented $787 million. Smartmatic, another election technology company suing Fox News, has also subpoenaed Grossberg to testify in its case against the network.
Persons: CNN —, Abby Grossberg, Lachlan Murdoch, Maria Bartiromo, Tucker Carlson, Suzanne Scott, Grossberg, ” Grossberg, Nancy Pelosi “ Organizations: CNN, CNN — Fox, Fox News, Systems, Fox, Dominion, New Locations: New York
Viewers say the character seems to resemble aspects of both Elon Musk and Spotify CEO Daniel Ek. Alexander Skarsgard plays Matsson, the billionaire CEO of tech streaming media giant GoJo – a socially awkward, vaguely sinister tech bro. But viewers have been pointing out the character's similarities to two bosses in particular — Elon Musk, and Spotify CEO Daniel Ek. "I definitely didn't try to play an Elon Musk character," Skarsgard said. In one recent episode of "Succession," Matsson tweets a "very nasty joke" after Kendall Roy's presentation about the Living+ initiative because he's less than pleased about the move.
The characters on the HBO show "Succession" often reference real events and billionaire figures. Here's what the Roys have said, done, and worn that capture the real-life world of the rich. Top editors give you the stories you want — delivered right to your inbox each weekday. The HBO drama, which has won awards for its acting and writing, is also incredibly well-researched. There are obvious nods: The Roys, like the Murdochs and the Arnaults, have succession drama that's made for TV.
Fox News sources told the NYT that a text message led to host Tucker Carlson's firing. But critics say the host embraced white nationalist views on his show for several years. In the text, Carlson made inflammatory remarks about violence and race. Critics of Fox News, however, say the remarks should not have come as a surprise to the network. And another likely factor in Carlson's exit was appeasing Fox shareholders in the wake of the $787.5 million settlement Fox News reached with Dominion.
Rupert and Lachlan Murdoch had calls with Ukrainian President Volodymyr Zelenskyy, Semafor reported. The separate phone calls reportedly happened weeks before Fox News host Tucker Carlson was fired. There is no clear link between the Murdochs' calls with Zelenskyy and Carlson's firing from Fox News. Rupert and Lachlan Murdoch had separate phone calls with Ukrainian President Volodymyr Zelenskyy weeks before Tucker Carlson, who has been critical of Ukraine and Zelenskyy, was fired from Fox News, Semafor reported. The Washington Post reported that during a Fox newsroom meeting, Rupert Murdoch"loudly" challenged Carlson about one of his segments on the Ukraine war.
Tucker Carlson was axed by Fox News Monday, days after it settled Dominion's defamation lawsuit. Here are seven theories for why Fox News decided to part ways with Carlson. Since then, media industry insiders have been buzzing with different theories for why Carlson was pushed out. The C-wordWithin the Dominion lawsuit, there emerged a pattern of vulgar language spewed by Carlson throughout his time at Fox News. Rupert Murdoch (right) and Lachlan Murdoch at the US Open in 2018.
New York CNN —Fox News has agreed to give voting technology company Smartmatic additional documents about Fox Corp. Chairman Rupert Murdoch and other senior corporate executives. “We will produce the materials as quickly as we are able to,” Fox lawyer Winn Allen said. These materials will include deposition transcripts and exhibits, apparently from the recently settled defamation case involving Dominion Voting Systems, a Smartmatic lawyer said in court. The monster case pits Smartmatic against Fox News, Trump lawyer Rudy Giuliani, Fox hosts Maria Bartiromo and Jeanine Pirro, and former host Lou Dobbs, who all promoted the baseless lie that Smartmatic rigged the 2020 election. An appeals court recently dropped Fox Corp. as a defendant, but Smartmatic refiled its lawsuit and is trying to re-add the parent company.
the Fox insider said. Lachlan Murdoch had defended Carlson time and again, most publicly in April 2021, pushing back against Anti-Defamation League complaints of the anchor's "great replacement theory" comments. Lachlan Murdoch and Rupert Murdoch. A second Fox News insider, who is familiar with conversations happening in Australia, said Lachlan Murdoch was looking long term. The board has also put pressure on the Murdoch family to change things at Fox News.
CNN —Fox News had plenty of reasons to get rid of Tucker Carlson. CNN’s Allison Morrow notes that Fox will need a Carlson upgrade of some kind because upstart conservative networks want into the same space. ET hour on Fox, and if it is any indication, there won’t be much new in the politics that are pushed on Fox’s viewers. On-screen, the words were “Biden’s Legacy: Crime in the Cities.”Related: Here’s a CNN Fact Check on the crime in Manhattan, which far below record levels. Biden legacy 2After declaring crime to be Biden’s legacy, Kilmeade transitioned.
In the hours following Carlson’s abrupt dismissal from the right-wing channel, a number of explanations have emerged — all with plausibility. One veteran television news executive told me that they believed the decision came down to a straightforward calculation by the Murdochs: Risk versus reward. It is pretty much enshrined as a law of physics in the universe of right-wing media that whoever the Murdochs put in prime time will rate. All that said, Carlson will test the hypothesis that Fox News as a brand trumps any single personality. Carlson is a force unlike any other in right-wing media and politics.
Grossberg's lawsuit, filed in Manhattan federal court against Fox News in March, also names both Carlson and one of his top producers, Justin Wells, as defendants. Their removal from Fox News, however, doesn't mean they can escape scrutiny in the lawsuit, Grossberg's lawyer Tanvir Rahman told Insider. Grossberg's lawsuit was one factor in the decision to fire him, according to the Los Angeles Times. Grossberg's lawsuit alleges she experienced a hostile environment while working as a producer for shows hosted by Carlson and Maria Bartiromo. Fox executives derided Bartiromo with sexist terms, calling her "menopausal," "hysterical," a "diva," and a "crazy bitch," Grossberg's lawsuit claims.
When Carlson hosted on April 17, he averaged 3.2 million total viewers and 445,000 in the key demo. On April 10, Carlson averaged 3.1 million total viewers and 438,000 in the key demo. And on April 3, Carlson averaged 3.2 million total viewers and 435,000 in the key demo. Carlson’s ratings dominance was why he had that 8pm perch. The numbers suggest that some of Carlson’s audience migrated over to Newsmax to sample the competitor’s showing.
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