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| Rupert Murdoch's Media Empire Evolution: An Insider's Perspective and Succession Drama |
Brian Stelter, a Vanity Fair journalist and author of a book about the Murdoch family, has shared his insights with the BBC regarding recent developments within the Murdoch media empire. According to Stelter, these developments were, in his view, "inevitable."
Stelter suggests that Rupert Murdoch, the iconic media tycoon, has assumed a more passive role in recent years, appearing more as a passenger than a captain of his media ship. He emphasizes that Rupert Murdoch is no longer the swashbuckling, feared media mogul he once was for decades.
Furthermore, Stelter opines that it's evident that Lachlan Murdoch has long been poised to take over the reins and notes that Lachlan's conservative outlook closely aligns with his father's. In terms of editorial direction, particularly the conservative stance of these media companies, Stelter anticipates minimal change under Lachlan's leadership.
In addition to maintaining the existing strategy, such as advocating for platforms like Google and Facebook to pay for content, Stelter raises questions about Rupert Murdoch's level of involvement, speculating whether this marks retirement or a semi-retirement phase.
Kelvin MacKenzie, a former editor of Rupert Murdoch's British tabloid, The Sun, lauds Murdoch as the "greatest media entrepreneur of this, or any other age." MacKenzie's association with the Sun during the 1980s included its coverage of the Hillsborough football stadium disaster.
The Murdoch family's dynastic struggle for power has been a long-standing subject of speculation and even inspired the popular TV series Succession. Lachlan Murdoch had reportedly suspected his brother James of contributing to the show's storyline.
In a lawsuit that garnered considerable attention, Murdoch's Fox News settled a defamation lawsuit brought by Dominion, a voting machine company, over its coverage of the 2020 presidential election. The settlement amounted to a substantial sum, and it revealed some of Murdoch's views on the election and former President Donald Trump's claims.
Rupert Murdoch, in his resignation letter to staff, highlighted the importance of freedom of speech and thought. He criticized self-serving bureaucracies and elites and their influence over most of the media. Murdoch pledged to remain engaged with news and ideas but in different roles, with his son Lachlan taking over as chairman of both companies.
Piers Morgan, who had worked closely with Murdoch during his career, praised Murdoch as a visionary leader. Lachlan Murdoch, the successor, also expressed gratitude for his father's remarkable career and legacy.
Rupert Murdoch's journey from inheriting a share in two Adelaide newspapers to becoming a global media mogul is a testament to his enduring impact on the media industry. He steps down from his leadership roles, and his son Lachlan will assume control of both organizations in November. Murdoch's statement underscores his pride in the collective achievements of his companies and his enduring commitment to news and ideas.
Stay tuned for further reactions and analyses of this significant development in the business world.
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