Golden Boy James Murdoch Out at News International

February 29, 2012 at 10:09 AM 1 comment

Wooah, this is big (my comments in brackets):

[News Corp.'s golden boy,] James Murdoch has stepped down as executive chairman of News International, the British arm of News Corp., the company announced Wednesday. Murdoch, who was once [has for years been] seen as the heir apparent to his father Rupert at the head of News Corp., has now lost a key position within the company.

News Corp. cast the move [is spinning this] as stemming from James’ recent relocation to New York from London, and Rupert Murdoch said his son would “continue to assume a variety of essential corporate leadership mandates.” He will also remain as the deputy COO of News Corp. But the reshuffling will be widely seen as a reflection of [is undoubtedly a result of] James’ deeply diminished stature [and possible criminal activity] following wave after wave of damaging allegations about his complicity in News Corp.’s still-simmering phone hacking scandal.

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Entry filed under: Fox "News"/ Fox "Business" /Rupert Murdoch / Wall Street Journal. Tags: , , .

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1 Comment Add your own

  • 1. walthe310  |  February 29, 2012 at 10:45 AM

    The Man Who Owns the News, Inside the Secret World of Rupert Murdoch by Michael Wolff. Keith Rupert Murdoch 2 is the media baron son of a minor media baron of the same name. Descended from protestant clergy and of Scottish ancestry, the Murdochs emigrated to Australia where Rupert’s father became a power in the newspaper business. Printing ink runs in Rupert’s veins and the newspaper portion of his empire is what he really cares about. That and earning enough money from the other parts of his empire to buy more newspapers.

    Newspapers are a dieing business, but Rupert still prefers them because that is what he knows and loves. Rupert also loves to create sensation and scandal because they sell more newspapers. He attacks his enemies in the papers and supports his friends, both with a long memory. All his employees try to write as Rupert would or they do not continue to be employed. News Corporation, his media empire, grew to its present size because a bigger balance sheet made it possible to do bigger deals and acquire more media properties including more newspapers.

    In the circles of society that Rupert now moves, most people criticize Fox News to his face. Rupert claims to be embarrassed by Fox, but as long as Fox makes money, Rupert will continue to allow Roger Ailes carte blanche to run the network as he sees fit. I think that the only way to compel Fox to be “Fair and Balanced” is to boycott its sponsors so that Fox is not a source of profits for Murdoch.

    I believe that News Corporation is too big, too powerful, for one company or one individual in a democracy. Michael Wolff tells the story about how Murdoch plucked Ed Koch from obscurity and succeeded in electing him mayor of New York City. It is Murdoch’s belief that an unknown elected to political office owes more to Murdoch for support than a well-known candidate for office would for the same support. Therefore, I believe that for the sake of preserving our democracy, we must dismantle Murdoch’s empire. Too much power in the hands of one individual or one corporation corrupts. Power corrupts and absolute power corrupts absolutely.

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