The Fort Worth Press - Rupert Murdoch's handover to son Lachlan sparks concern in London

USD -
AED 3.672504
AFN 64.503991
ALL 81.046102
AMD 360.780113
ANG 1.789785
AOA 917.000367
ARS 1523.143125
AUD 1.433486
AWG 1.8025
AZN 1.70397
BAM 1.745704
BBD 2.012675
BDT 123.586379
BGN 1.747831
BHD 0.377114
BIF 2995.403222
BMD 1
BND 1.277279
BOB 11.766859
BRL 4.965204
BSD 0.999331
BTN 94.818583
BWP 13.766234
BYN 2.934172
BYR 19600
BZD 2.009729
CAD 1.40025
CDF 2316.000362
CHF 0.825078
CLF 0.025212
CLP 986.459589
CNY 6.67805
CNH 6.670604
COP 3171.419646
CRC 456.018209
CUC 1
CUP 23.982684
CVE 98.420137
CZK 21.719504
DJF 177.944392
DKK 6.67165
DOP 61.293346
DZD 134.335699
EGP 55.079216
ERN 15
ETB 162.538225
EUR 0.89267
FJD 2.237204
FKP 0.747807
GBP 0.747692
GEL 2.590391
GGP 0.747807
GHS 11.586558
GIP 0.747807
GMD 74.000355
GNF 8843.664926
GTQ 7.638684
GYD 209.291739
HKD 7.84235
HNL 26.828223
HRK 6.728204
HTG 130.968001
HUF 327.370388
IDR 18093.85
ILS 3.10555
IMP 0.747807
INR 94.945504
IQD 1514.883742
IRR 1832375.000352
ISK 121.780386
JEP 0.747807
JMD 158.593297
JOD 0.70904
JPY 156.860385
KES 129.754095
KGS 87.448604
KHR 4082.652742
KMF 439.503794
KPW 899.999961
KRW 1323.525039
KWD 0.31069
KYD 0.832775
KZT 453.715357
LAK 22486.722899
LBP 89486.053465
LKR 331.81595
LRD 170.375329
LSL 16.556076
LTL 2.95274
LVL 0.60489
LYD 6.399786
MAD 9.815504
MDL 18.037221
MGA 4519.123488
MKD 54.987281
MMK 2100.106238
MNT 3599.160205
MOP 8.073191
MRU 39.936627
MUR 47.160378
MVR 15.460378
MWK 1732.762083
MXN 18.668404
MYR 4.085304
MZN 63.903729
NAD 16.556076
NGN 1332.060377
NIO 36.774222
NOK 9.35739
NPR 151.709734
NZD 1.750854
OMR 0.38297
PAB 0.999241
PEN 3.431874
PGK 4.475387
PHP 63.618038
PKR 276.527424
PLN 3.92999
PYG 5779.443924
QAR 3.642612
RON 4.779804
RSD 104.87794
RUB 80.331771
RWF 1476.413621
SAR 3.753249
SBD 8.07458
SCR 13.982238
SDG 601.503676
SEK 9.931804
SGD 1.276904
SHP 0.7473
SLE 22.950371
SLL 20969.504398
SOS 571.07154
SRD 37.628038
STD 20697.981008
STN 21.868166
SVC 8.743696
SYP 13001.999685
SZL 16.555541
THB 33.770369
TJS 9.208462
TMT 3.51
TND 2.983978
TOP 2.40776
TRY 49.703804
TTD 6.789842
TWD 32.585804
TZS 2645.601821
UAH 45.239791
UGX 4402.195742
UYU 40.076762
UZS 11958.762887
VES 879.788904
VND 25842.5
VUV 118.622996
WST 2.767791
XAF 585.553409
XAG 0.018551
XAU 0.000250266221
XCD 2.70255
XCG 1.800955
XDR 0.707052
XOF 585.553409
XPF 106.448878
YER 236.103589
ZAR 16.57373
ZMK 9001.203584
ZMW 20.091043
ZWL 321.999592
SSP 5745.299755
MXV 2.106972
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

Rupert Murdoch's handover to son Lachlan sparks concern in London
Rupert Murdoch's handover to son Lachlan sparks concern in London / Photo: © AFP/File

Rupert Murdoch's handover to son Lachlan sparks concern in London

Rupert Murdoch's announcement that he will hand over control of his global media empire to son Lachlan has put the group's British media, including the tabloid The Sun, on tenterhooks about its future place in the conglomerate.

Text size:

Concern about what the future holds for the UK arm of the empire centres on Lachlan's ties to Britain which are widely viewed as much weaker than his father's.

In the UK, in addition to The Sun, Murdoch's News Corp owns influential Conservative-leaning newspapers including the Times and the Sunday Times.

News Corp, is one of two legs of the 92-year-old billionaire's media conglomerate, the other being Fox Corporation.

The UK arm last year also launched the right-wing television station TalkTV.

The handover will see Murdoch becoming honorary president of the two companies in mid-November.

Born in 1931 in Australia, Rupert Murdoch studied at Oxford University before returning in the late 1960s to buy the weekly News of the World and The Sun, making him a hugely influential figure in British political life.

His second wife Anna Torv was also a Scottish-born journalist.

Lachlan Murdoch, 52, although born in the UK, was raised in the United States and started his career in Australia.

Until now he has been president of Fox Corporation, parent company of Fox News, and was mainly in charge of the group's US affairs.

The transfer of power to a successor who appears to have little personal attachment to the UK has inevitably prompted some concern.

"The inevitable appointment of Lachlan is bad news for the London arm (he has hardly visited here these last ten years)," former Sun editor Kelvin MacKenzie said in a column for the Spectator on Thursday.

The UK arm of Murdoch's empire has lost its lustre in recent years amid the digital transition and a phone-hacking scandal that saw victims of crime, celebrities and public figures including members of the royal family snooped on by Murdoch journalists.

That scandal led to the closure in 2011 of the weekly News of the World newspaper in 2011, a title the Murdoch had owned since 1969.

- Control -

For many years The Sun was the most widely read newspaper in the UK.

It has not published figures since March 2020 when its circulation stood at just over 1.2 million

It remains, however, the second largest media outlet online with more than 24 million readers each month, behind the BBC, according to recent data from industry publication Press Gazette.

According to Alice Enders, of Enders Analysis which specialises in the media sector, the strength of Lachlan Murdoch's personal connections to the UK are not the real issue.

"That's not the question. The question is who owns the shares" in the group.

She said Rupert Murdoch was "not going to leave completely. He remains the owner and retains control."

"Lachlan will not be able to launch a major transaction of sale or acquisition without the approval of his father", she added.

It would in any case, she said, "make no sense to part company with The Times" at a time when its direct competitor, the Telegraph, and the influential conservative magazine The Spectator, are being put up for sale after the Barclay family lost control of their media empire.

S.Rocha--TFWP