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All In One's Blog
Rupert Murdoch and Familly Re-election News Corp
But failure now is also success in waiting, because the heat is on for the Murdoch hegemony and nothing – in terms of dynastic succession – will ever be the same again. While he's around, a talismanic Rupert can stick on top. But he's well into his 81st year and frankly, even before his next ordeal by Commons select committee, James Murdoch is a busted flush.
If his dad still wants it (and the New York Times raised some doubts on that score last week) appointing James chief executive would look like raising two fingers to corporate governance. And once Chase Carey, the chief operating officer, takes over instead, who on earth thinks he'll step gallantly aside to let young James and old troubles in?
The son who was supposed to succeed, Lachlan, doesn't like New York or its backstabbers. He's happy in Australia. The independent, shrewd and sympathetic daughter who ought to have succeeded, Elisabeth, is damaged because dad paid way over the odds for her Shine production company (a deal that scotched any immediate chance of a board place for her).
In short, News Corp may still look like a Murdoch company and sound like a Murdoch company. But listen hard and you'll hear the soft sound of the sands of time running out Read more
Murdoch, 80, and his son and heir apparent James Murdoch, who together hold 40 percent of the controlling votes, will remain on the board, reports the Irish Times.
In response to particularly severe criticism by Tom Watson, the Labour MP who has spearheaded the investigation into News of the World, Murdoch said he was "personally determined" to right any wrongs made by his organization, reports The Independent.
According to the Herald Sun, News Corp. confirmed the same day that it would pay the family of Milly Dowler, the murdered girl whose phone was hacked by News of the World, $4.6 million, approximately $1.6 million of that coming from Mr. Murdoch himself. Read More
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