‘Blood in the water’: where next for the Murdoch empire, and what about the succession?
“Rupert has shown a rare sign of weakness,” says one longtime Murdoch watcher. “There is something of the smell of blood in the water.”
In the space of two weeks the 92-year-old’s media empire has taken a reputational hammering on both sides of the Atlantic, putting a renewed focus on the future shape of the global conglomerate’s businesses – and who will run them.
Theories abound about what may happen when control of the empire moves to Rupert’s children – the Murdoch family trust owns 39% of the voting shares in News Corp and 42% in Fox Corporation – with Lachlan, James, Elisabeth and Prue holding equal power.
Scenarios not out of place in HBO’s Murdoch family-esque hit drama Succession, which Lachlan reportedly believes his younger brother James leaks plot lines to, include James, Elisabeth and Prue eventually coming together to oust their elder sibling.
Earlier this week, the Duke of Sussex, the “spare” royal on a mission to bring tabloid newspapers to account over phone hacking, presented a string of headline-grabbing allegations in a case against the Sun that threatens to put Murdoch favourite Rebekah Brooks back in the spotlight.
Since being found not guilty of phone hacking at a criminal trial almost a decade ago, Brooks, the former Sun editor who runs Murdoch’s UK business including the Times, TalkTV and Virgin Radio, has focused on rehabilitating her corporate image with a future eye on a global role in New York.
“Rebekah is going to be spending a lot more time in New York,” says one source. “She has always been a significant adviser, very much a right-hand person, but every time there is a gap between wives she spends more time with Murdoch.”
Earlier this month, Rupert called off his engagement to his would-be fifth
Read more on theguardian.com
