DIRS.INFO The most relevant business & tech news

☆ Fox touts sports programming performance even as costs rise
▼ + stars: | 2023-11-02 | by ( Drew Richardson | ) www.cnbc.com time to read: +1 min

Fox Sports drove higher consumption overall for Fox Corporation last quarter, CEO Lachlan Murdoch said Thursday during the company's quarterly earnings call. "FOX Sports was a big driver of that consumption, especially with its broadcast of the Women's World Cup, where the U.S. versus the Netherlands on Fox with the most watched Women's World Cup game match ever on U.S. English language television," Murdoch said. Sports programming costs drove expenses higher, weighing on profit and offsetting revenue growth in the company's TV segment. Fox cited the Women's World Cup and the renewal of National Football League rights as major costs. But it comes with a massive price tag, especially as linear networks and streaming services have begun battling it out for programming rights.

Persons: Lachlan Murdoch, Murdoch, Fox Organizations: Fox Sports, Utah Utes, USC Trojans, Los Angeles Memorial Coliseum, Fox Corporation, Fox, FOX, Netherlands, Sports, National Football League, YouTube, NFL, DirecTV Locations: Los Angeles

☆ Judge shuts down Fox bid to look for links between George Soros and Smartmatic
▼ + stars: | 2023-10-30 | by ( Liam Reilly | ) edition.cnn.com time to read: +4 min

Manhattan Supreme Court Justice David B. Cohen rejected Fox Corp. and Fox News’ attempts to subpoena George Soros, his son Alex Soros, and their philanthropic organization Open Society Foundation (OSF) for documents related to the election defamation case. Fox argued that Alex and George Soros, as well as OSF, possess material necessary to the network’s defense in the defamation trial. The documentation, Fox argued, would establish a connection between George Soros and Smartmatic. “I base that on the finding that the crux of Smartmatic’s claims is that Fox has asserted they were part of rigging [the election], not that Smartmatic was affiliated with George Soros, Alex Soros, or the OSF,” Cohen said. “We’re interested in the closeness of the relationship, what Soros has done for Smartmatic over time,” Marks said.

Persons: George Soros, David B, Cohen, Fox News ’, Alex Soros, Soros, Fox, Alex, Smartmatic, ” Cohen, “, ”, ” Smartmatic, George, Donald Trump, Rudy Giuliani, Trump, Sidney Powell, ” Aaron Marks, Mark Malloch, Brown, Giuliani, Powell, “ We’re, ” Marks, Marks, Benjamin McCallen, “ They’re, ” McCallen Organizations: CNN, Fox News, Manhattan, Fox Corp, Open Society Foundation, OSF, Fox, New, Soros, Trump Locations: York, Smartmatic, New York

☆ Starboard CEO makes case for spinning off real estate assets from WSJ owner News Corp
▼ + stars: | 2023-10-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

– in particular to see its real estate business separated from the rest of the company. Smith said News Corp. should split out its real estate assets, including an interest in REA Group of Australia. On Tuesday, Smith called out the valuation discrepancies between the news and real estate businesses. Meanwhile, News Corp.'s real estate assets trade at eight-times, he said. "It's a great business, a great asset, it's just too cheap," Smith said of News Corp.'s stock price.

Persons: Jeffrey Smith, CNBC's David Faber, Smith, Murdoch, It's, it's Organizations: News Corp, –, REA Group of Australia . News Corp, Dow Jones, Wall Street, New, CNBC, Reuters, Street, Fox Corp, New York Times Locations: New York

☆ Fox’s top lawyer blasts judge in Dominion case, says trial would’ve been ‘months of utter pain’
▼ + stars: | 2023-10-16 | by ( Marshall Cohen | ) edition.cnn.com time to read: +4 min

Viet Dinh, former Chief Legal and Policy Officer for Fox Corporation. Dinh said Davis issued “really illogical” rulings in the pretrial phase, which “hamstrung” Fox’s defense strategy. This artist sketch depicts Judge Eric Davis of Delaware Superior Court on the bench Monday, April 17, 2023, in Wilmington, Delaware. Elizabeth Williams/APThe judge ruled that none of Fox’s on-air statements about Dominion were true and rejected Fox’s attempts to throw the case out. Dominion made many of these messages public through court filings, and they painted an incredibly damning picture of Fox News.

Persons: CNN —, Viet Dinh, Eric Davis, ” Dinh, –, Donald Trump, Joe Biden, Fox, Dinh, Davis, ”, Eric Davis of, Elizabeth Williams, Fox’s, Tucker Carlson, “ Organizations: CNN, Fox, Dominion Voting Systems, Fox Corporation, Delaware, Harvard Law, ” Dominion, Fox News, Eric Davis of Delaware Superior Court, Dominion, Harvard Locations: Viet, Delaware, Wilmington , Delaware, Smartmatic

☆ Australia's referendum failure could lead to more divisive politics, analysts say
▼ + stars: | 2023-10-15 | by ( Kirsty Needham | ) www.reuters.com time to read: +5 min

[1/2] 'Yes' campaigners drive past voters lining up at a polling booth during The Voice referendum in Queanbeyan, Australia, October 14, 2023. Prime Minister Anthony Albanese misread the public mood, analysts said on Sunday, as he took responsibility for the referendum result, in which only the national capital voted "Yes" from among eight states and territories. Elected in 1996, Albanese saw the failure of the 1999 referendum for Australia to become a republic. Dutton may not try to win back these Teal seats at the next election, Kenny said, adding that almost all of Labor's rural and outer-suburban, working class seats voted "No". Former Liberal Prime Minister Tony Abbott, who will join the board of Fox Corp next month, praised Dutton's "courageous" campaign against the referendum in an interview with Sky News.

Persons: Tracey Nearmy, Anthony Albanese, Albanese, Chris Wallace, Peter Dutton, Dutton, Mark Kenny, Kenny, " Albanese, Bridget McKenzie, Tony Abbott, Dutton's, Abbott, Simon Banks, Hawker Britton, Wallace, Kirsty Needham, Clarence Fernandez Organizations: REUTERS, Rights, First, Aboriginal, First Nations, University of Canberra, Liberal, Australian National University, Labor, Trump, Nationals, university's Australian Studies Institute, Victoria, Sunday, Fox Corp, Sky News, Liberal Party, Thomson Locations: Queanbeyan, Australia, Torres, U.S, New South Wales

☆ Australia's Referendum Failure Could Lead to More Divisive Politics, Analysts Say
▼ + stars: | 2023-10-14 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +4 min

By Kirsty NeedhamSYDNEY (Reuters) - Australia's decision to deny constitutional recognition to its First Peoples could herald a more divisive "Trump-style" politics at the next national election, while pushing the prime minister to pivot to cost of living issues, some analysts said. Now he is expected to pivot to addressing cost of living issues pressing on voters, which had made it harder to win the referendum, she added. Elected in 1996, Albanese saw the failure of the 1999 referendum for Australia to become a republic. Dutton may not try to win back these Teal seats at the next election, Kenny said, adding that almost all of Labor's rural and outer-suburban, working class seats voted "No". Former Liberal Prime Minister Tony Abbott, who will join the board of Fox Corp next month, praised Dutton's "courageous" campaign against the referendum in an interview with Sky News.

Persons: Kirsty Needham SYDNEY, Anthony Albanese, Albanese, Chris Wallace, Peter Dutton, Dutton, Mark Kenny, Kenny, " Albanese, Bridget McKenzie, Tony Abbott, Dutton's, Abbott, Simon Banks, Hawker Britton, Wallace, Kirsty Needham, Clarence Fernandez Organizations: First, Aboriginal, First Nations, University of Canberra, Liberal, Australian National University, Labor, Trump, Nationals, university's Australian Studies Institute, Victoria, Sunday, Fox Corp, Sky News, Liberal Party Locations: Torres, Australia, U.S, New South Wales

☆ 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

☆ Football-XFL and USFL announce intent to merge
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Mandatory Credit: Kirby Lee-USA TODAY Sports/File Photo Acquire Licensing RightsSept 28 (Reuters) - The XFL and USFL said on Thursday that the two troubled American grid iron leagues plan to merge and begin play next year. The XFL is owned by movie star Dwayne 'The Rock' Johnson while the USFL is under the ownership of Fox Corp. In a joint statement the XFL and USFL said the merger will be subject to customary regulatory approvals. Neither the XFL or USFL or a new league pose a threat to NFL dominance with the merged entity continuing to play a Spring schedule. McMahon relaunched the league in 2020 but never finished the season due to the COVID-19 pandemic.

Persons: Landry Jones, Kirby Lee, Dwayne, Johnson, Vince McMahon, McMahon, Steve Keating Organizations: Dallas Renegades, XFL, LA Wildcats, Health Sports Park, The Renegades, Wildcats, USA, USFL, Fox Corp, National Football League, Fox, NBC, Disney, NFL, longtime WWE, RedBird Capital Partners, Thomson Locations: Carson , California, USA, U.S, Toronto

☆ Lachlan Murdoch backs Fox board role for former Australian PM who called climate change science 'absolute crap'
▼ + stars: | 2023-09-23 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Former Australian prime minister Tony Abbott has been nominated to Fox Corp's board of directors. The rightwing politician is a controversial figure who's called climate change science "absolute crap." The nomination came just a day after Lachlan Murdoch took the reins of the Fox media empire. Abbott and Johnson "bring skills, experience and perspectives that will contribute to the board and benefit Fox," Lachlan Murdoch said in a press release. A representative for Lachlan Murdoch declined to comment, and Abbott did not immediately respond to a request for comment from Insider, made outside normal working hours.

Persons: Tony Abbott, Lachlan Murdoch, Rupert Murdoch, Lachlan, Peggy Johnson, Abbott, Johnson, Murdoch, He's, Microsoft Abbott, Anne Dias, Jacques Nasser Organizations: Fox, Service, Media, News Corp, Liberal Party, Murdoch, Australian, Bloomberg, UK Board of Trade, Sydney Morning Herald, Microsoft Locations: Wall, Silicon

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

☆ Rupert Murdoch's 2023 pay at Fox swells 24% to $22.9 million
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Media mogul Rupert Murdoch leaves his home in London, Britain March 4, 2016. Murdoch wed former supermodel Jerry Hall in a low-key ceremony in central London on Friday, the fourth marriage for the media mogul. REUTERS/Stefan Wermuth/File Photo Acquire Licensing RightsCompanies Fox Corp FollowNews Corp FollowSept 22 (Reuters) - Fox Corp's (FOXA.O) former chairman Rupert Murdoch's total compensation for 2023 climbed more than 24% to $22.9 million, a regulatory filing showed on Friday. At Fox, his 2023 compensation includes an annual base salary of $5 million and about $7.6 million in stock awards and options. Lachlan's compensation at Fox stands at $21.8 million for 2023, little changed from last year's $21.7 million.

Persons: Rupert Murdoch, Murdoch, Jerry Hall, Stefan Wermuth, Fox, Rupert Murdoch's, Lachlan Murdoch, Tony Abbott, Peggy Johnson, Deborah Sophia, Pooja Desai Organizations: Companies Fox Corp, News Corp, Fox, Tony Abbott AC, Thomson Locations: London, Britain, Bengaluru

But the executive transition does not settle another potential power play that could occur upon Rupert Murdoch’s death, as framed by a document called the Murdoch Family Trust. It is the vehicle through which the elder Murdoch controls News Corp and Fox Corp, through a roughly 40% stake in voting shares of each company. The Murdoch Family Trust has eight votes: four of which are controlled by Murdoch, and the remaining four controlled by the four children from his first two marriages. Upon succession, the four older children will equally inherit Murdoch’s voting shares in the trust, according to Alice Enders, Head of Research at Enders Analysis. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Lachlan, Mike Blake, Lachlan Murdoch, Rupert Murdoch’s, Murdoch, Prudence, Elisabeth, James –, Murdoch’s, Chloe, Grace, Wendi Deng, Alice Enders ,, “ It’s, ”, Enders, “, Helen Coster, Stephen Coates Organizations: Fox Executive, Allen, REUTERS, News Corp, Corp, Fox Corp, Trust, The, Alice Enders , Head, Research, Enders Analysis, Fox, Thomson Locations: Sun Valley , Idaho, Murdoch, The Reno , Nevada, Melbourne, New York

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

☆ Morning Bid: Edgy market calm after worst day of 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. World stocks captured by MSCI's all-country index (.MIWD0000PUS) recorded their worst day of the year so far - dropping 1.69%. The yen fell back again but the dollar/yen rate remained below Thursday's 2023 high of 148.45. The pound hit its lowest level since March and 10-year British gilt yields fell to their lowest level since July. Elsewhere, oil prices nudged higher again on Friday as concerns that a Russian ban on fuel exports could tighten global.

Persons: Sarah Silbiger, Mike Dolan Punch, Rupert Murdoch, Lisa Cook, Susan Collins, Neel Kashkari, Mary Daly Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Bank of Japan, Fed, European Central Bank and Bank of England, Treasury, Sterling, of, Activision Blizzard, Markets Authority, Ubisoft, Cisco Systems, Cisco, Fox Corp, News Corp, JPMorgan, Federal Reserve, Boston, Minneapolis Fed, San Francisco Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: Washington ,, U.S, Australia, Britain, United States, India

☆ Rupert Murdoch's exit ends chapter for polarising figure in his native Australia
▼ + stars: | 2023-09-22 | by ( Byron Kaye | ) www.reuters.com time to read: +5 min

Even at a time when media consumption is splintering from traditional routes, particularly among younger people, Murdoch's influence is embedded in the country's information ecosystem because of its massive reach, media experts said. His local properties include Sky News Australia, a cable TV channel fashioned on the partisan style of U.S. network Fox News. "The Murdoch papers still have that key reach with working-class demographics that can still be influential," he said. "He has been in lots of ways a controversial figure, but an influential figure too, and this is an end of an era at News." Murdoch's exit cuts a native tie between News Corp and Fox Corp and Australia, where Murdoch was born.

Persons: Rupert Murdoch, Jonathan Ernst, Rupert Murdoch's, Stephen Mayne, Murdoch, Mayne, Shane Homan, Honan, Jim Chalmers, Chalmers, Penny Wong, Malcolm Turnbull, it's, Turnbull, Lachlan Murdoch, James Murdoch, Byron Kaye, Jamie Freed Organizations: USS, Air, Space Museum, REUTERS, Rights, Fox Corp, News Corp, Sky News Australia, Fox, Sky, Monash, Australian Broadcasting Corp, Labor, Labor Party, News, America, ABC, Google, Thomson Locations: New York, U.S, Adelaide, Australia, Britain, Australian, Sydney, Canada

☆ Rupert Murdoch, a kingmaker in GOP politics, enriched himself as he poisoned America
▼ + stars: | 2023-09-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

CNN —Rupert Murdoch’s reign over the insidious right-wing media kingdom he forged into existence over a decades-long career is coming to a close. Murdoch is a strategic thinker and ruthless businessman, who would have given the timing of his exit immense thought. Is the announcement an indication that Murdoch is attempting to further cement his son, Lachlan, as his successor? The other question is: How will this transition impact the organization of Murdoch’s companies? And the biggest question of all: Does Murdoch have some additional surprises left up his sleeve?

Persons: Rupert Murdoch’s, Murdoch, “, Murdoch bashed, ”, ” Murdoch, —, Donald Trump, Lachlan, Will Lachlan Organizations: CNN, Fox Corporation, News Corporation, Fox News, Fox, Voting Systems, Dominion, News Corporations Locations: cahoots, Smartmatic

☆ CNBC Daily Open: Dispelling the AI hallucination
▼ + stars: | 2023-09-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The pan-European Stoxx 600 slumped 1.3% amid a flurry of central bank decisions. Sweden hiked rates by 25 basis points to 4%; Norway raised its rate from 4% to 4.25%; Switzerland kept rates unchanged. SuccessionRupert Murdoch is stepping down as chairman of the board of Fox Corp and News Corp in November.

Persons: Rupert Murdoch, Lachlan Murdoch, Steve Eisman, that's Organizations: CNBC, of England, Cisco, Fox Corp, News Corp, Fox News, Systems, Valley Bank Locations: Sweden, Norway, Switzerland, Turkey

[1/2] Republican presidential candidate Donald Trump (R) speaks to media mogul Rupert Murdoch as they walk out of Trump International Golf Links in Aberdeen, Scotland, June 25, 2016. "This provides an opportunity for a reset between President Trump and the Fox News network," Republican strategist Ron Bonjean said of Lachlan Murdoch's appointment. "The question is: does Lachlan Murdoch want to have a positive relationship with former President Donald Trump? Fox News did not immediately respond to a request for comment about political coverage under Lachlan Murdoch. Stuelpnagel said he believed the high cost of the Dominion lawsuit might make Lachlan Murdoch tread carefully on Trump coverage.

Persons: Donald Trump, Rupert Murdoch, Carlo Allegri, Rupert Murdoch's, Trump, Fox, Rupert Murdoch's son, Lachlan Murdoch, Biden, Ron Bonjean, Lachlan Murdoch's, Bret Baier, Jason Osborne, Osborne, Hillary Clinton, Larry Stuelpnagel, Dan Cassino, Karen Finney, Finney, Stuelpnagel, Lachlan, Tim Reid, Nathan Layne, Alexandra Ulmer, Heather Timmons, Jamie Freed Organizations: Republican, Trump, REUTERS, Fox Corp, News Corp, Fox News, Dominion, Systems, Fox, Republicans, Social, America News Network, Northwestern University, Fairleigh Dickinson University, Democratic, Thomson Locations: Aberdeen, Scotland, American, New Jersey

☆ The biggest controversies during Murdoch's reign at Fox
▼ + stars: | 2023-09-22 | by ( Tamara Lindstrom | Lilian Manansala | ) www.businessinsider.com time to read: 1 min

Rupert Murdoch stepped down as chair of Fox Corporation and News Corp on September 20. The 92-year-old billionaire amassed a global media empire but was racked with scandals over his seven-decade career.

Persons: Rupert Murdoch Organizations: Fox Corporation, News Corp

☆ US stocks close at lowest since June, Treasury yields spike on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Interest rate-sensitive megacaps, led by Amazon.com (AMZN.O), Nvidia Corp (NVDA.O), Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) dragged the S&P 500 and the Nasdaq to their lowest closing levels since June. "It gives people another chance to say that the lag time of higher rates – which we're just starting to feel – might really bite." All 11 major sectors of the S&P 500 lost nearly 1% or more, with real estate stocks (.SPLRCR) suffering its biggest one-day percentage drop since March. The S&P 500 posted three new 52-week highs and 29 new lows; the Nasdaq Composite recorded 22 new highs and 373 new lows.

Persons: Brendan McDermid, Jerome Powell, dampening, Thomas Martin, we're, –, Martin, Rupert Murdoch, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Treasury, Amazon.com, Nvidia Corp, Apple Inc, Inc, UAW, Dow Jones, . Semiconductor, SOX, Klaviyo Inc, Arm Holdings, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Atlanta, Philadelphia, New York, Bengaluru

[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

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

☆ Reactions: Media mogul Rupert Murdoch steps down as chairman of Fox, News Corp
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +5 min

Sept 21 (Reuters) - Media mogul Rupert Murdoch, 92, has stepped down as the chairman of Fox Corp (FOXA.O) and News Corp (NWSA.O), ending a more than seven-decade career in which he created an empire spanning from Australia to the United States. His son, Lachlan Murdoch, will become the chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition cements Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. His son Lachlan Murdoch is seasoned and capable of running the business, but of course there's no replacement for someone like the chairman, Rupert Murdoch, who founded the company and built it over decades." "The media world is unrecognisable from the one he stepped into seventy years ago and the decision to scrap plans to reunite his empire must have smarted."

Persons: Rupert Murdoch, Lachlan Murdoch, Murdoch, BRIAN WIESER, Lachlan, MICHAEL ASHLEY SCHULMAN, Smartmatic, Rupert Murdoch's, JASON BENOWITZ, I'm, DANNI HEWSON, AJ BELL, he's, Mary Berry, he'll, RILEY, THOMAS HAYES, Wise, MATTHEW TUTTLE, ED MOYA, Aditya Soni, Samrhitha, Mayur, Ananya Mariam Rajesh, Arun Koyyur Organizations: Media, Fox Corp, News Corp, Fox, MADISON, WALL'S, Dominion, HOGAN, TUTTLE, MSNBC, Thomson Locations: Australia, United States, Bengaluru

☆ Rupert Murdoch steps down as chairman of Fox and News Corp.
▼ + stars: | 2023-09-21 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +8 min

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

☆ Stocks making the biggest moves midday: Splunk, Cisco, Broadcom, Fox and more
▼ + stars: | 2023-09-21 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cisco Systems , Splunk — Shares of Cisco fell 3.9% Thursday after the company said it is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion. KB Home posted its fiscal third-quarter report Wednesday evening, reporting earnings of $1.80 per share on revenue of $1.59 billion. Analysts polled by LSEG, formerly known as Refinitiv, called for earnings of $1.43 per share and revenue of $1.48 billion. Broadcom — Shares of Broadcom moved lower by almost 2.7%. Klaviyo — The marketing automation company stock closed Thursday roughly 2.9% higher.

Persons: Rupert Murdoch, Eli Lilly —, Klaviyo, Horton —, PulteGroup, Horton, Zillow, CNBC's David Faber, —, Alex Harring, Tanaya Macheel, Samantha Subin Organizations: Broadcom, Cisco Systems, Cisco, KB, LSEG, Fox Corporation, News, News Corp, Broadcom —, Google, CNBC, Klaviyo, New York Stock Exchange, Zillow, FedEx —, FedEx, Paramount, Netflix, Disney, Writers Guild of America, Wednesday Locations: San Jose , California

Search resuls for: "FOX Corp"

25 mentions found