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☆ How Mark Zuckerberg turned against the news
▼ + stars: | 2024-05-13 | by ( Kali Hays | ) www.businessinsider.com time to read: +13 min

Mark Zuckerberg held regular discussions in 2017 and early 2018 about how to make news on Facebook more trustworthy and reliable. "Giving people a voice is not enough without having people dedicated to uncovering new information and analyzing it," Zuckerberg wrote. Zuckerberg also considered a permanent subsidy through his philanthropy the Chan Zuckerberg Initiative. Murdoch and Zuckerberg's yearslong relationship, while never outright friendly, turned "tense, very tense," when Australia passed the NMBC, a person who worked with Zuckerberg said. When Canada passed a law similar to Australia's last year, Meta simply and decisively turned off news content on Facebook and Instagram.

Persons: Mark Zuckerberg, Donald Trump, Facebook's, Zuckerberg, He'd, Chan Zuckerberg, Tracy Clayton, it's, That's, Adam Mosseri, Mark, We're, Meta, Australia Zuckerberg, Rupert Murdoch, James Kennedy, Rod Sims, Murdoch, Lachlan, Zuckerberg's, Scott Morrison, Josh Frydenberg, Joel Kaplan, Campbell Brown, Frydenberg, I'm, Kali Hays Organizations: Facebook, Associated Press, Business, Meta, Google, News, News Corp, . News Corp, Fox, Cambridge, Capitol Locations: Meta, Canada, Australia, France, Germany, Myanmar, khays@businessinsider.com

☆ Rupert Murdoch officially steps down from his media empire, handing over the reins to his son Lachlan
▼ + stars: | 2023-11-15 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

CNN —Lachlan Murdoch is stepping onto center stage. On Wednesday, his father, Rupert Murdoch, officially stepped down as chairman of News Corporation, the print publishing arm of the billionaire mogul’s powerful media empire, marking the end of an era. In his final remarks on Wednesday to the News Corporation board as chairman, Murdoch hit on a number of topics. His profile rose when he took on the role of executive chairman in 2015 at what was then 21st Century Fox. But Lachlan, whose Fox News has refrained from openly skewering the GOP frontrunner, has never made such comments in public.

Persons: Lachlan Murdoch, Rupert Murdoch, Rupert, Murdoch, Evan Gershkovich, ”, Lachlan, ” Rupert, James Murdoch, Fox, Donald Trump, Trump, hasn’t, Jim Rutenberg, “, “ Will Lachlan, ” Rutenberg, “ Murdoch, Will Lachlan Organizations: CNN, News Corporation, Fox Corporation, Fox News, Century Fox, Disney, Fox, GOP, Australian, Voting, The New York Times Locations: Russia, Lachlan, Australia, Americas

☆ 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

☆ Exclusive: Activist hedge fund Starboard eyes Rupert Murdoch's News Corp -sources
▼ + stars: | 2023-10-13 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

The fund's plans and the size of its stake in News Corp could not be learned. News Corp declined to comment and Starboard did not respond to a request for comment. Starboard, which has pushed for changes at companies ranging from Salesforce (CRM.N) to Darden Restaurants (DRI.N), would struggle to shake up News Corp without Murdoch's consent. Irenic did succeed in drumming up investor opposition to Murdoch's proposed merger with his other company Fox Corp (FOXA.O), forcing him to abandon the plan. Reporting by Svea Herbst-Bayliss in New York Editing by Greg Roumeliotis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Rupert Murdoch, Lachlan Murdoch, Bing Guan, Jeffrey Smith, Rupert Murdoch's, Smith, Murdoch, Dow Jones, Irenic, Murdoch's, Lachlan, Svea Herbst, Bayliss, Greg Roumeliotis, David Gregorio Our Organizations: News Corporation, News Corp, Fox, REUTERS, 13D, Investment, New York Times Co, Darden, Corp, Irenic Capital Management, Wall Street, Fox Corp, Reuters, Svea, Thomson Locations: New York, U.S

For Lachlan Murdoch, this moment has been a long time coming. On Thursday, his father Rupert Murdoch announced that in November he'll step down as the head of his two media companies: News Corp. and Fox Corp. Lachlan will become the chair of News Corp. while remaining chief executive and chair at Fox Corp., the parent of Fox News Channel. In Murdoch World, as in the fictional world of the Roy family, seemingly sure things can go sideways in an instant, particularly when unexpected opportunities arise. Lachlan Murdoch has lived that first hand. Lachlan Murdoch has drawn criticism from media watchdogs for what many called Fox News' increasingly conspiratorial and misinformation-promoting broadcasts.

Persons: Lachlan Murdoch, Rupert Murdoch, Lachlan, James, Elisabeth, Rupert, Rupert Murdoch's, ”, Roy, Paddy Manning, Roger Ailes, ” Manning, “, I'm, Murdoch, Manning, Lachlan Murdoch's, James ., Ailes, Fox, Smartmatic, Kathryn Murdoch Organizations: News Corp, Fox Corp, Fox News Channel, Murdoch, Princeton, Fox News, News, British, Voting Systems, AP Locations: London, New York City, Australia, Australian, U.S

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

The News Corporation logo is displayed on the side of a building in midtown Manhattan in New York, U.S., February 27, 2018. "What you will see over time is a lot of litigation; some media companies have already begun those discussions," said News Corp Chief Executive Robert Thomson, speaking at the Goldman Sachs Communacopia + Technology Conference. It's unclear whether more publishers will ultimately strike deals with the tech companies or pursue litigation related to the use of that content. The Associated Press struck a deal in July, licensing a part its archive of news stories to ChatGPT-owner OpenAI. Reporting by Zaheer Kachwala in Bengaluru; Editing by Pooja Desai and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Lucas Jackson, Robert Thomson, Goldman Sachs, we're, Bard, ChatGPT, OpenAI, Zaheer Kachwala, Pooja Desai, Aurora Ellis Organizations: REUTERS, News Corp, News, Technology, Publishers, Sunday Times, Wall Street, OpenAI, Associated Press, Thomson Locations: Manhattan, New York, U.S, Bengaluru

☆ Fox's legal head to step down in another major exit after Dominion settlement
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File PhotoAug 11 (Reuters) - Fox Corp (FOXA.O) said on Friday that Chief Legal Officer Viet Dinh was stepping down, a high-profile exit that follows its $787.5 million settlement in April of a defamation lawsuit filed by Dominion Voting Systems over its 2020 U.S. election coverage. Top-rated host Tucker Carlson agreed to part ways with Fox in April, just days after the legal resolution. As part of a separation agreement, Dinh will get a lump-sum cash payment of $23 million, Fox said. He will become a special adviser to the company after leaving the role of legal head. In June, Fox Corp also settled a lawsuit by former Fox News producer Abby Grossberg, who claimed gender discrimination and accused the network's lawyers of pressuring her to make misleading statements in the Dominion Voting Systems case.

Persons: Mike Segar, Dinh, Tucker Carlson, Fox, George W Bush, Bancroft PLLC, Kirkland & Ellis, Ng, Abby Grossberg, Chavi Mehta, David Thomas, Anil D'Silva, Shilpi Majumdar Organizations: Fox, News Corporation, Fox News, REUTERS, Fox Corp, Dominion Voting Systems, Dominion, Patriot, U.S, D.C, Kirkland &, Voting, Thomson Locations: Manhattan, New York City , New York, U.S, Washington, Bengaluru, Chicago

☆ Fox Chief Legal Officer Viet Dinh to step down months after Dominion settlement
▼ + stars: | 2023-08-11 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Fox Corp. Chief Legal and Policy Officer Viet Dinh will step down from his post, months after the company agreed to pay a $787.5 million settlement to Dominion Voting Systems. The departure comes after Dinh advised the company through the lawsuit with the voting machines company, which was halted just short of a trial with the April settlement. While Fox agreed to the settlement, its hosts weren't required to talk about the lawsuit or make any public apology for on-air statements. Carlson and Dinh were among the Fox anchors and executives who were questioned as part of the lawsuit. "We are grateful that he will continue to serve FOX as Special Advisor where we will benefit from his counsel."

Persons: Dinh, Donald Trump, Joe Biden, Tucker Carlson, Jesse Watters, Carlson, Lachlan Murdoch Organizations: News Corporation, Fox News, New York City . Fox Corp, Voting Systems, Dominion, Fox, FOX, Century Fox, Fox Corp Locations: New York City

☆ Even Fox News and the Murdochs are turning on DeSantis after his rough campaign start
▼ + stars: | 2023-07-12 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

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

[1/2] A Fox News channel sign is seen on a television vehicle outside the News Corporation building in New York City, in New York, U.S. November 8, 2017. The deal follows Fox's April 18 agreement to pay Dominion $787.5 million to settle the voting-technology company's defamation suit in Delaware. In firing her, Fox said her legal claims were "riddled with false allegations against Fox and our employees." She had also sought unspecified damages in a similar lawsuit in Delaware Superior Court, which she dismissed in May. The program on which Grossberg worked, "Tucker Carlson Tonight," was the top-rated prime-time U.S. cable TV news show.

Persons: Shannon Stapleton, Abby Grossberg, Tanvir Rahman, Tucker Carlson, Dominion, Grossberg, Carlson, “, ” Grossberg, Fox, ” Dominion, Gretchen Whitmer, Tudor Dixon, octogenarian, Nancy Pelosi, Maria Bartiromo, Kevin McCarthy, Helen Coster, Doina Chiacu, Leslie Adler Organizations: Fox, News Corporation, REUTERS, Fox Corp, Fox News, Voting, Dominion, Delaware Superior Court, Democratic, Republican, U.S ., Thomson Locations: New York City, New York, U.S, Delaware, Manhattan, Delaware Superior, Grossberg's Manhattan

☆ Fox News to pay $12 million to settle fired producer Abby Grossberg's lawsuit
▼ + stars: | 2023-06-30 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The News Corporation headquarters, which is also home to Fox News, stands in Manhattan on April 18, 2023 in New York City. Fox News has settled another lawsuit, this time with a one-time producer for former primetime host Tucker Carlson. The Fox Corp. network agreed to pay $12 million to settle the lawsuit brought by Abby Grossberg, who alleged she was coerced into giving false testimony for the Dominion Voting Systems defamation case. Grossberg earlier this year had filed lawsuits against Fox in New York and Delaware, and had also accused the network of discrimination. Fox had earlier denied the claims by Grossberg, and explained its decision to let the producer go:

Persons: Tucker Carlson, Abby Grossberg, Grossberg, Carlson –, Dominion –, Maria Bartiromo, Fox Organizations: News Corporation, Fox News, New York City . Fox News, The Fox Corp, Dominion Voting, Fox, Network, Dominion Locations: Manhattan, New York City, New York, Delaware, Dominion

☆ Wall Street Journal insiders are bracing for more changes under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. People expect Tucker to overhaul the cumbersome front-page editing process for top enterprise stories and deemphasize commodity news in favor of more investigative pieces, with specifics to come as early as June. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ Newsroom insiders are bracing for changes at The Wall Street Journal under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. One audio staffer was laid off last week, in keeping with Journal practice to quietly shed people in small numbers. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ Fox posts quarterly loss on Dominion settlement despite boost from Super Bowl, Tubi
▼ + stars: | 2023-05-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

The News Corporation headquarters, which is also home to Fox News, stands in Manhattan on April 18, 2023 in New York City. Fox Corp. reported a quarterly net loss on Tuesday due to the costs related to its settlement with Dominion Voting Systems, despite revenue that was lifted by the Super Bowl and its fast ad-supported streaming service Tubi. Fox notched $4.08 billion in quarterly revenue, up 18% from the same period last year. The company also saw a boost after airing more NFL games during the season and from increased viewership for Tubi. Fox is the top-rated cable news channel, even as prime-time ratings in Carlson's slot have slid since his departure.

☆ Fox's not allowing Tucker Carlson to say goodbye to viewers is the equivalent of 'execution' says fired CNN anchor
▼ + stars: | 2023-04-25 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Tucker Carlson's abrupt ousting from Fox News is more like an "execution," according to a fired CNN anchor. "Not being given a chance to sign off is the television equivalent of an execution," Brian Stelter said in Vanity Fair. Yet Carlson, Fox News' top-rated host, never got the chance to say goodbye to his audience, thanks to his sudden ousting on Monday by the conservative media powerhouse. Advertisements featuring Fox News personalities, including Tucker Carlson, adorn the front of the News Corporation building, March 13, 2019. "The takeaway, at least for some TV insiders, is that Carlson was shoved— hard—by Fox management," Stelter wrote in Vanity Fair.

☆ Tucker Carlson's texts from the Dominion lawsuit reveal the real Fox News
▼ + stars: | 2023-04-24 | by ( Brent D. Griffiths | Rebecca Zisser | ) www.businessinsider.com time to read: +7 min

Private texts reveal incredible detail about Fox News' inner workings. Among the messages is a thread where Tucker Carlson privately bashes Trump. Top Fox News hosts, including Tucker Carlson, privately insulted Chris Wallace and hatched a plot for a rebellion — November, 16, 2020. In a group chat between the three biggest hosts, Carlson, Hannity, and Ingraham, few colleagues, including then-"Fox News Sunday" host Chris Wallace, were spared. In a group chat between the three biggest hosts, Carlson, Hannity, and Ingraham, few colleagues such as then-"Fox News Sunday" host Chris Wallace were spared.

☆ Stocks making the biggest moves midday: Fox, Albemarle, First Republic and more
▼ + stars: | 2023-04-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

People walk by the News Corporation headquarters, home to Fox News, on April 18, 2023 in New York City. First Solar – Shares of the solar company lost 3.2% after a Citi downgrade to sell cited margin risks and concerns that Inflation Reduction Act benefits are already reflected in the share price. Medtronic — Shares added 4% during midday trading after being upgraded to overweight from equal weight by Wells Fargo on Sunday. Sunrun , Enphase Energy — Shares of Sunrun and Enphase Energy were higher Monday after Citi added positive catalyst watches on the solar companies, saying it sees further share gains. The Wall Street bank opened a 90-day positive catalyst watch on Enphase Energy, citing a strong backlog and expectations for record-high margins.

April 19 (Reuters) - Fox News on Tuesday disposed of one legal threat with its $787.5 million defamation settlement with Dominion Voting Systems, but the network still faces a $2.7 billion lawsuit from another voting technology company, Smartmatic USA, over its coverage of debunked election-rigging claims. REUTERS/Shannon Stapleton/File PhotoSmartmatic is seeking $2.7 billion in damages from Fox and five individuals, including former Trump lawyers and hosts. Smartmatic alleges in its lawsuit in New York County Supreme Court that the defendants knowingly spread false claims that its software was used to flip votes. Conspiracy theorists erroneously claimed Smartmatic owned Dominion, and the companies mounted similar allegations in their lawsuits. Fox denies the allegations, saying in a recent statement the network had a right to report on highly newsworthy allegations of voter fraud.

☆ Fox faces similar defamation case from Smartmatic after Dominion settlement
▼ + stars: | 2023-04-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Fox Corp. and its TV networks agreed to pay $787.5 million to settle Dominion Voting Systems' defamation lawsuit this week, but the media giant's legal headaches don't end there. Still hanging in the balance is voting software company Smartmatic USA's defamation case, which is seeking $2.7 billion in damages – over $1 billion more than Dominion initially sought in its lawsuit. Smartmatic, like Dominion, filed its defamation lawsuit against Fox for spreading false claims that its voting software helped rig the 2020 election that saw Joe Biden triumph over Donald Trump. Although Smartmatic's lawsuit was filed shortly ahead of Dominion's in 2021, the pace of the case has lagged in comparison. It remains unclear how or whether the settlement between Fox and Dominion will affect Smartmatic's case.

Fox agreed to a $787.5 million settlement with Dominion Voting Systems on Tuesday. But a senior media executive told Insider that insurance typically handles these types of payments. Fox Corp. had nearly $4.1 billion of cash on hand, according to comments made in February by company CEO Lachlan Murdoch. Fox Corp., which also owns assets such as the broadcast network and streamer Tubi, has a market capitalization of $17.61 billion as of Tuesday. In 2017, Fox also agreed to a $90 million "derivatives" settlement against company officers over sexual harassment issues at Fox News, according to Reuters.

A person walks past Fox News Headquarters at the News Corporation building on May 03, 2022 in New York City. - Fox Corp. and its cable networks agreed Tuesday to pay $787.5 million to Dominion Voting Systems to settle a defamation lawsuit over false claims that Dominion's machines swayed the outcome of the 2020 presidential election. The suit by Dominion, which sells voting machines and election software, had argued that Fox News and its sister network Fox Business "intentionally and falsely" blamed Dominion for the 2020 loss of former President Donald Trump to President Joe Biden by airing unsubstantiated claims about the company. Fox had said in court filings that its hosts' statements about Dominion were protected by the First Amendment. The company also said Dominion had not shown that the statements were made with so-called actual malice, which is the threshold for civil defamation claims.

November 15, 2020 -- Fox’s daytime average audience reaches a 35% decline since the eve of the election, according to statistics cited in Dominion's lawsuit. March 26, 2021 -- Dominion sues Fox News in Delaware Superior Court. March 31, 2023 -- Davis rules that the statements aired on Fox were false, defamatory and not covered by legal protections for the press under the U.S. Constitution's First Amendment. April 12, 2023 -- Davis sanctions Fox after it was revealed that the network failed to turn over relevant recordings and transcripts until the eve of trial. April 16, 2023 -- Davis delays trial by one day without giving a reason, but two sources told Reuters that Fox and Dominion were holding last-minute settlement talks.

A person walks by Fox News signage posted on the News Corporation building in New York City, April 12, 2023WILMINGTON, Del. — Opening arguments were delayed Tuesday in the Dominion Voting Systems' defamation lawsuit accusing Fox News of spreading the damaging falsehood that the company rigged the 2020 election. The person, a Fox News representative, was forced to delete the photos and permanently exit the courtroom. The Fox representative misunderstood the courtroom rules and apologized, adding that the pictures were deleted immediately, the company told CNBC. I'm not going to give you an extra day," Davis told attorneys for both camps.

☆ Dominion wasn't here to save democracy — it just wanted money from Fox News
▼ + stars: | 2023-04-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Fox News detractors wanted Dominion's lawsuit against Fox News to move forward for democracy's sake. "PLEASE Dominion --- Do not settle with Fox! The election technology company filed a civil defamation lawsuit against Fox News and its parent company, Fox Corporation, and asked for $1.6 billion. But just because Fox settled Dominion's lawsuit doesn't mean it's now free of legal risk. "Smartmatic remains committed to clearing its name, recouping the significant damage done to the company, and holding Fox accountable for undermining democracy."

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