Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
RUPERT MURDOCH PRESENTED a succession plan at media-entertainment conglomerate 21st Century Fox yesterday, passing his chief executive job to his son James and another key role to son Lachlan.
A source close to the company confirmed the plan to AFP, saying James Murdoch would assume the CEO job while elder brother Lachlan would become executive chairman.
The plan is to be presented next week to the board of directors, the source said.
But the 84-year-old Australian-born US citizen who built the global empire does not plan a complete exit.
“Rupert Murdoch is expected to relinquish the CEO role but remain executive chairman and continue to drive the company’s agenda,” the person said.
Lachlan Murdoch is expected to be named executive co-chairman and he will work in close partnership with James Murdoch… The two of them will be a team and run the company together.
The timing of the plan is not clear. But CNBC, which first reported the news, said the change would take place later this year or in early 2016.
James Murdoch, 42, will take over day to day management at the New York-based company, which operates the Fox studios in Hollywood, and Fox’s television operations in the US and around the world.
The cable news channel, which competes with CNN and MSNBC, will continue to be run by its president Roger Ailes, “reporting directly to Rupert Murdoch,” according to Fox News.
21st Century Fox was created two years ago when Murdoch split the struggling publishing operations from his News Corp. empire from the faster-growing media and entertainment operations.
Rupert Murdoch and his family remained in control of both companies after the split. He is executive chairman at News Corp. with his son Lachlan, 43, listed as co-chairman.
At Fox, Rupert Murdoch holds the title of chairman and chief executive, with Chase Carey president and chief operating officer and James Murdoch sitting on the board.
According to the source, Carey was expected to stay “in an advisory role” after the succession plan is implemented.
Who is Rupert Murdoch?
Rupert Murdoch has spent a lifetime building his News Corp empire from a single Australian newspaper he inherited.
He moved to London where his purchase of the weekly News of the World in 1969 gave him a high-profile foothold in the British market.
He went on to buy The Sun, a daily which he turned into a popular and big-selling tabloid.
The success of his popular newspapers helped finance his 1981 purchase of The Times and Sunday Times, prestigious broadsheets, despite intense opposition from parts of Britain’s establishment.
He relocated to the United States where more bold acquisitions followed and where he became a naturalized US citizen in 1985.
The empire came under pressure in recent years from the slump in newspaper revenues and a scandal in Britain which led to the shutdown of News of the World after the revelation the tabloid hacked into the phones of a murdered teenager and the families of dead soldiers.
Murdoch shut the News of the World in July 2011 following public revulsion that it had hacked the voicemail of a schoolgirl, Milly Dowler, who was later found murdered.
News UK has paid out millions in out of court settlements including £2 million to Dowler’s family.
The News Corp split in 2013 was aimed at “unlocking value” in the print and entertainment operations.
In the latest quarter, Fox reported net income of $975 million on revenues of $6.5 billion.
The company also operates National Geographic Channels and local television stations, along with a stake in Britain’s Sky satellite television service.
News Corp – which owns Wall Street Journal parent Dow Jones – reported a profit of $23 million on $2 billion in revenues over the same period.
However let us not forget that former Pope Benedict is responsible for “Crimen sollicitationis”, the Vatican’s officials secret guide for covering up child sexual abuse.
This shameful document should not be forgotten. Every Catholic needs to know about this:
https://en.wikipedia.org/wiki/Crimen_sollicitationis?wprov=sfti1
@SouperArlene:
That was 10 mins I’ll never get back, anyway straight from the page you just linked:
“There is no basis to assume that the Holy See envisioned this process to be a substitute for any secular legal process, criminal or civil. It is also incorrect to assume, as some have unfortunately done, that these two Vatican documents are proof of a conspiracy to hide sexually abusive priests or to prevent the disclosure of sexual crimes committed by clerics to secular authorities.”
Ah yes I thought a top secret, Vatican child abuse guide seemed a bit much alright. You’re tin foil hat is on a bit tight.
@SouperArlene: I am very curious to see where in this document you can back up your false claim? That is not to say the church has not covered up abuse – clearly it has – but this document is not some secret memo on how to cover up abuse. It is rather the opposite.
Oh my God Jimmy and Paul Whitehead I cant believe you’re defending this document.
It imposes an oath of secrecy on the child victim, the priest dealing with the allegation and any witnesses. Breaking that oath means excommunication from the Catholic Church.
So in other words, if the child does not keep quiet about the abuse, he has to go to hell according to their damnable false doctrine.
How anyone can defend this is beyond belief.
Good luck to you with your dying religion.
@SouperArlene: I’m defending no-one I’m only calling out your bullsh*t. Have you actually read the link you posted? Read the section on trial confidentiality and get back to me..you are twisting the whole thing to suit your narrative
@SouperArlene: There are many things wrong with your post. The document you refer to was approved by Pope John XXIII and was nothing to do with Pope Benedict.
Did you read the document? It’s clear you did not.
@SouperArlene: Just pointing out that this document is not what you describe it to be. You clearly have never read it in its entirety. You are however right in some aspects of how the church has dealt with abuse by cover up and imposed silence – I am just saying this is not the document that you claim it to be.
“Retired Former Pope” – I didn’t realise ‘Former Pope’ was an actual position. Surely it’s just Former Pope???
@John McSweeney: I believe the Pope formerly known as Pontiff is the politically correct term.
@Gordon Comstock: Pope Emeritus is the correct term.
@John McSweeney: The correct terminology is ‘Pope Benedict emeritus’… it means retired, but allowed to retain the title of the office.
Two “sole representatives of God on Earth” in one shot. Stunning
@Paraic: Incorrect – only one pope.
@Phillip O’Brien: Incorrect. Benedict is still a Pope. Emeritus. But he retains the title.
@Paul Whitehead: Incorrect – a poor and pope emeritus are not the same thing. Pope Emeritus Benedict can not speak ex cathedra.
Lovely photo! Can the journal confirm where I could buy a copy?
He could do with allowing married priests in remote parts of Ireland as well, retired priests covering 3 and 4 parishes at the moment.
Stay behind closed doors please
However Pope Benedict (Ratzinger) cannot deny that he was the main villain behind the notorious Vatican guide for covering up child abuse, namely: ‘Crimen sollicitationis’.
Even the Vatican acknowledges this now. In any other industry he would be in jail but for some reason he is given a free pass. He is responsible for so many crimes against children it’s mind boggling.
For more information see:
https://en.wikipedia.org/wiki/Crimen_sollicitationis?wprov=sfti1
Oops. Apologies for posting twice.
Still, it’s not like threatening children if they tell on their abusers or anything.
@SouperArlene: Please will you look at when this document was drawn up and who signed it and who approved it and you’ll see it’s of no support to your argument at all.
When pressed, most people will admit, quite rightly in my opinion, to the acceptance of some ‘version’ of ‘god’ cum ‘spirituality’ but these two guys are evidence that the ‘blind do lead the blind’.
@Denis McClean: Did He ‘Slap’ his hand I wonder.!!
@Denis McClean: not me! In fact I think most people know in their heart of hearts it’s all codswollop but dervive some comfort from the incesting delusion that they are not just heading into a deep dark abyss of nothingness when they die.
have your say