News Corp has announced that it will split its struggling publishing arm from its more profitable entertainment groups, including 20th Century Fox and Fox News.
It’s a momentous time for Australia’s big media players and Rupert Murdoch, James Packer and Kerry Stokes are all jockeying for position in the new media landscape.
Spending on television advertising in the US grew by 4.5%, despite predictions the growth of the internet would erode television spending, according to a new Nielsen survey.
Businesses have been warned to watch what they say on Twitter after media mogul Rupert Murdoch found himself in digital hot water after slamming Google in a series of tweets.
Rupert Murdoch has apologised for the News of the World phone hacking scandal in front of a British Parliamentary inquiry, although he has skirted responsibility for the affair, saying those people he trusted to run the company are to blame instead.
As Rupert Murdoch sees an irreversible weakening in his hold over News Corp, there will be little to stop the company selling off its relatively unprofitable and potentially toxic newspaper assets.
The Murdoch saga shows media competition doesn't lead to more responsibility, but less. That's why a public inquiry into Australia's media would be a waste of time – but a closer look at News Corp is still warranted.
James Murdoch's promotion and transfer to the US, clearly driven by the need to give him the requisite experience to ensure the market accepts him as his father's successor, may not run smoothly.
News Corporation has been hit with legal action from a group of shareholders who believe its purchase of Rupert’s daughter Elisabeth Murdoch’s production company is an act of nepotism.
The lack of a succession plan at News Corp should be of major concern to shareholders. Rupert Murdoch needs to make a decision soon, as speculation mounts over which of his children will take the mantle.