Murdoch biographer: “Rupert wants Lachlan to buy News Limited”
Rupert Murdoch wants his son Lachlan Murdoch to exit his television interests and return to print media, according to a Murdoch biographer.
- Published by David Knox
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Media mogul Rupert Murdoch wants his son Lachlan Murdoch to exit his television interests and return to print media, according to a Murdoch biographer.
Michael Wolff, author of “The Man Who Owns the News: Inside the Secret World of Rupert Murdoch,” told ABC Radio today that the interim TEN CEO isn’t sold on the idea.
“They want Lachlan to buy the Australian operation,” he said. “The slight hitch there is that Lachlan himself does not seem to be convinced on this idea. But as recently as last month Rupert was on the phone trying to find buyers for Lachlan’s present company so that he could get Lachlan out of that company and get him to buy News Limited.
“This is, sort of, all about Rupert wanting his children back in the fold, and it’s also about his incredible ability… inclination… to meddle in anything that his children are doing.”
Lachlan Murdoch resigned from his executive positions at News Corporation in 2005. He purchased shares in TEN last year and has been interim CEO between Grant Blackley and the incoming James Warburton, who begins in January.
Earlier this month he announced a number of redundancies following an internal review, which has already impacted on the axing of some programmes including Video Hits.
His company Ilyria Group also has an 8.9% share in Prime Media but he resigned as Deputy Chairman and Director last November when he joined the TEN board.
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8 Responses
My suspicion is Lachlan and Rupert must’ve had some kind of fall-out and that is why he’s in Australia doing his own thing. Rupert seems to me like a control freak. In James’s best interset, he should get as far away as he can from his dad, before he becomes just like him. In this whole sorry saga, I lay all the blame towards Rupert.
Wasn’t Rupert the same man who used to own Ansett till he stupidly sold to Air New Zealand.
Surely its about legacy. News Corp will quickly forget Australia once Rupert goes.
Get rid of Lachlan, he needs to move out from TEN as soon as posible. He stuffed the next AFL tv rights & axed video hits. Shame Lachlan shame
Good. Get him out of Ten ASAP before he does anymore damage.
It’s like buying into a VCR company. Print media is dying.
I believe it’s a Discretionary Trust so if Lachlan’s not careful he may not get any distribution. Listen to Dad and Grandma, Lachlan.
Lachlan Murdoch is on the News Corp board, and despite selling down his own direct shareholding in News, he still has his own shares in News and is a beneficiary of the family Trust which is News largest and controlling shareholder.