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News Corp

August 29, 2013

Media mogul Rupert Murdoch, chairman of NewsCorp and 21st Century Fox, is moving into the business of winemaking, with the purchase of a $29 million (€22 million) property in the Californian suburb of Bel Air in the US.

Media mogul Rupert Murdoch, chairman of NewsCorp and 21st Century Fox, is moving into the business of winemaking, with the purchase of a $29 million (€22 million) property in the Californian suburb of Bel Air in the US.

The 13-acre property, Moraga Vineyards, produces about 1,500 cases of wine a year and includes staff quarters, a tasting room and wine cave. The sale includes $4 million of wine inventory.

July 4, 2013

A secretly taped recording of News Corp boss Rupert Murdoch has revealed who might succeed the octogenarian as head of the family media empire.

A secretly taped recording of News Corp boss Rupert Murdoch has revealed who might succeed the octogenarian as head of the family media empire.

Speaking at a meeting at the Sun newspaper, Murdoch said either his son Lachlan or News Corp chief executive Robert Thomson would likely take the helm should anything happen to him.

News Corp shareholders have previously urged Murdoch – whose family trust owns around 40% of the company’s voting shares – to name his successor.

June 19, 2013

Lawyers and family business experts suggest a divorce like the one Rupert Murdoch is facing could be a big distraction for a company boss, particularly at a time when the business faces challenges – as the Murdoch empire might following its recent split into two firms.

Lawyers and family business experts suggest a divorce like the one Rupert Murdoch is facing could be a big distraction for a company boss, particularly at a time when the business faces challenges – as the Murdoch empire might following its recent split into two firms.

Senior partner and co-founder of Banyan Family Business Advisors Henry Foley said divorce increases tension within the family business, and multiple divorces compound these impacts. Murdoch, 82, filed for divorce from Wendi Deng last week – he has already been through two other divorces.

May 28, 2013

News Corporation's board of directors has approved plans to separate out its publishing and entertainment activities in to two distinct companies, with a poisoned pill strategy in place to protect the new companies from a hostile takeover.

News Corporation's board of directors has approved plans to separate out its publishing and entertainment activities in to two distinct companies, with a poisoned pill strategy in place to protect the new companies from a hostile takeover.

The publishing division will retain the name News Corporation, while the broadcasting and entertainment business will be named 21st Century Fox – an updated name for Twentieth Century Fox, the film company Murdoch bought in 1985. The split, which will be completed by 28 June, was first tabled a year ago.

April 25, 2013

News Corporation's board of directors, including Rupert Murdoch, has agreed a $139 million (€106.8 million) settlement of a lawsuit brought by investors.
 

News Corporation's board of directors, including chief executive and chairman Rupert Murdoch, has agreed a $139 million (€106.8 million) settlement of a lawsuit brought by investors, which claimed directors had turned a blind eye to illegal practices and mismanagement at News Corp that damaged share prices.

The shareholders sued the directors on behalf of News Corp; the money – which will be covered by the board's insurance – will be paid to News Corp itself rather than to shareholders directly.

October 17, 2012

The Murdoch family appears to be regaining the trust of News Corporation’s shareholders, after it survived all motions opposing its control of the media empire at the company’s annual general meeting.

The Murdoch family appears to be regaining the trust of News Corporation’s shareholders, after it survived all motions opposing its control of the media empire at the company’s annual general meeting.

Shareholders re-elected Rupert Murdoch, his two sons – James and Lachlan – as well as all other board directors.

September 25, 2012

Next-gen James Murdoch will reportedly be given more responsibilities in News Corporation’s US television division, following a dressing down by a UK watchdog over the phone-hacking scandal.

Next-gen James Murdoch will reportedly be given more responsibilities in News Corporation’s US television division, following a dressing down by a UK watchdog over the phone-hacking scandal.

Last week, Ofcom, the British broadcasting authority, appeared to have cleared BSkyB, the pay-TV company that family-controlled News Corp holds a large stake in, of any connection to the scandal.

However, it was critical of James, who was chairman of Sky until he stepped down in April. He remains a non-executive director.

August 30, 2012

The world has changed and some businesses that worked in the past won’t work in the future. Elisabeth Murdoch can’t be the only next-gen wondering if it’s easier just to jump ship and build something better.

When Elisabeth Murdoch stood up to deliver the MacTaggart Lecture recently – the main event at an annual British media jamboree in Edinburgh – the audience may have braced itself for a repeat of her brother James’s infamous appearance before British parliament.

Explaining why journalists at the newspapers he ran were hacking the phones of murdered girls and bombing victims, he lapsed into incomprehensible management jargon, blathering about “pushbacks” and “financial quantum”. Fortunately Elisabeth is made from different stuff.

June 28, 2012

Plans to split News Corporation into two separate companies have been given the go ahead, after the media conglomerate’s board voted in favour of the division. 

Plans to split News Corporation into two separate companies have been given the go ahead, after the media conglomerate’s board voted in favour of the division.

The company confirmed on 28 June the board has tasked management with looking at how family-controlled News Corp could be split into an entertainment business on one side and a publishing and education company on the other.

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