Murdoch to become Post publisher
Mathew Charles Media
04aug05
IN A case of reverse succession, Rupert Murdoch will assume his son's position as publisher of the New York Post.According to News Corp sources, an announcement may be made as early as today.
Mr Murdoch will become publisher of the Post in addition to his duties as News Corp's executive chairman in a bid to further build on the strong circulation gains the paper enjoyed under his son's tenure.
"That's why he is going to take on the added role of publisher," a source said. "The Post is not far off beating the Daily News (its arch rival) in circulation and is making a lot of gains on the advertising side."
A publisher sits at the head of a newspaper's business.
According to the source, Lachlan Murdoch was popular with the paper's staff and had energised them.
"Rupert wants to build on that," the source said.
However, it appears Lachlan Murdoch resigned before seeing the fruits of his labour.
Although the paper is enjoying its best health in years it loses about $US30 million a year.
Among the changes Mr Murdoch made was to revamp management and install former Sydney Daily Telegraph editor Col Allan.
Exactly who will replace Lachlan Murdoch as head of the company's US television networks has yet to be decided.
Lachlan's brother James now appears to be the family favourite to fulfil his father's ambition for a Murdoch to retain control of the company.
While Rupert Murdoch has said succession is ultimately a board decision, he would "certainly engage in sufficient nepotism to see that my kids get a good opportunity".
Elsewhere, he has said it is a "very, very human motive to see your work carried forward by one of your own" but added if his children were not up to scratch "we'd have to face that".
"That is what you have a majority of independent directors for, although I hope I would be smart enough to see it myself," he told The New York Times.
James Murdoch, 32, runs British pay-TV outfit BSkyB, which last night released a pound stg. 152 million ($A352 million) full-year profit -- almost double the previous year.
The Times in London recently reported that James Murdoch had told friends he planned to remain with the company for the long term.
News Corp's shares yesterday slipped 17c to $22.59 while its non-voting scrip also dipped 17c to $21.27.
Link here
04aug05
IN A case of reverse succession, Rupert Murdoch will assume his son's position as publisher of the New York Post.According to News Corp sources, an announcement may be made as early as today.
Mr Murdoch will become publisher of the Post in addition to his duties as News Corp's executive chairman in a bid to further build on the strong circulation gains the paper enjoyed under his son's tenure.
"That's why he is going to take on the added role of publisher," a source said. "The Post is not far off beating the Daily News (its arch rival) in circulation and is making a lot of gains on the advertising side."
A publisher sits at the head of a newspaper's business.
According to the source, Lachlan Murdoch was popular with the paper's staff and had energised them.
"Rupert wants to build on that," the source said.
However, it appears Lachlan Murdoch resigned before seeing the fruits of his labour.
Although the paper is enjoying its best health in years it loses about $US30 million a year.
Among the changes Mr Murdoch made was to revamp management and install former Sydney Daily Telegraph editor Col Allan.
Exactly who will replace Lachlan Murdoch as head of the company's US television networks has yet to be decided.
Lachlan's brother James now appears to be the family favourite to fulfil his father's ambition for a Murdoch to retain control of the company.
While Rupert Murdoch has said succession is ultimately a board decision, he would "certainly engage in sufficient nepotism to see that my kids get a good opportunity".
Elsewhere, he has said it is a "very, very human motive to see your work carried forward by one of your own" but added if his children were not up to scratch "we'd have to face that".
"That is what you have a majority of independent directors for, although I hope I would be smart enough to see it myself," he told The New York Times.
James Murdoch, 32, runs British pay-TV outfit BSkyB, which last night released a pound stg. 152 million ($A352 million) full-year profit -- almost double the previous year.
The Times in London recently reported that James Murdoch had told friends he planned to remain with the company for the long term.
News Corp's shares yesterday slipped 17c to $22.59 while its non-voting scrip also dipped 17c to $21.27.
Link here
posted by Kangaroo Brisbane Australia at 8:02 AM
2 Comments:
Gotta go to work darlin, walkin out the door now.
Will be back ASAP.
I was just signing in to catch you stay well
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