Murdoch puts retirement plans on hold 'forever'

ADELAIDE: Rupert Murdoch said on Wednesday that his sons will have to face a long wait before taking over at the helm of his global media empire News Corp - because he had no intention of stepping down as its head.

The 72-year-old News Corp chief was speaking at the company's annual general meeting in its hometown of Adelaide, Australia.

Murdoch told shareholders, his retirement plans had been put on hold "forever" and that he would have to be "carried out".

According to media reports, Murdoch said his sons Lachlan (31) and James (30) still had to prove their worth. 

Last month, Murdoch celebrated his 50th year as the head of News Corp. He is said to have built the company from a single newspaper into a group spanning satellite television, broadcast television, movie production and newspapers across America, Asia, Australia and Europe.

New lease of life

According to reports, Murdoch implied that the birth of his second daughter (to third wife Wendi Deng) in July has given him a new lease of life. He has appeared in a documentary last year, pumping iron and boasting of his low cholesterol count.

Although slightly hard of hearing at times, Murdoch appeared to be in good health and humour during the two-hour shareholder meeting, the reports said.

Speculation about his possible successor resurfaced this month after James Murdoch was pushed as the lead candidate to head Britain's BSkyB, in which the company has a 35.4 per cent controlling stake.

The hype had worried shareholders that the company would lose its independence. Investors also wondered whether James - who heads the Hong-Kong based Star TV - had enough experience to lead the entire empire.

However, Murdoch said in the annual meeting that any decision on the job would not be based on his family's shareholding in the company and the "best candidate" would get the job.

Praises for Lachlan, James

Accompanied by his older son, Lachlan, at the meeting, Murdoch heaped praise on both his sons, reports stated. Lachlan is widely seen as his most likely successor.

Murdoch is quoted to have said, "So far they are showing great promise. Lachlan is supervising companies which provided 60 per cent of last year's huge operating profit. James has just turned around the single most difficult situation we had in the whole company (referring to James' steered Star TV to its first operating profit last year). They are starting well. Let's see."

Lachlan currently heads News Corp's US publishing operation, including the New York Post, while James oversees Star TV.

Latest Reads

Launched on November 19, 2014, EPIC celebrates the completion of four years on air, in which it has set aspirational benchmarks for Indian TV content.

Television TV Channels Music and Youth
Celebrating 100 years of Bengali cinema, Viacom18 and Film Heritage Foundation bring the 4th Film Preservation & Restoration Workshop to Kolkata

In line with the centenary celebration of the Bengali Film Industry, and with a purpose to encourage and give an impetus to film preservation and restoration, the 4th edition of Film Preservation & Restoration Workshop India (FPRWI) 2018 was today inaugurated at Kolkata’s Rabindra Sadan.

Television TV Channels News Broadcasting
Vimal Elaichi Pan Masala enters top 5 most advertised brands in BARC week 45

The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands between 27 October-02 November 2018. The data is a reflection of top 10 advertiser and brands across genre on Indian television (U+R) : 2+ Individuals. The data demonstrates ads that were...

Television TV Channels Viewership
Zee Anmol back on top of Hindi channels across genres

Zee Entertainment Enterprises Ltd's (Zeel) free to air (FTA) Hindi GEC Zee Anmol was back to second rank in Broadcast Audience Research Council of India’s (BARC) weekly list of top 10 channels across genres in week 45 of 2018 (Saturday, 3 November 2018 to Friday, 9 November 2018, week under review...

Television TV Channels Viewership
MNX to premiere supernatural fright flick, ‘Wish Upon’

MNX, the preferred movie channel of the millennials, will premiere, American supernatural horror film, ‘Wish Upon’ for the first time on Indian television.

Television TV Channels English Entertainment
Hill+Knowlton Strategies India wins communication mandate for Discovery India

After a competitive multi-agency pitch, Hill+Knowlton Strategies, one of India’s premier communications consultancies

Television TV Channels English Entertainment
Doordarshan now wants all matches of men’s hockey WC

Even as TV sports channels are wracking their brains as part of a public consultation to justify why proposed tweaking of rules relating to mandatory sharing of signals of sporting events is not a good idea, the Indian government has gone ahead to notify hockey World Cup for sharing with the...

Television TV Channels Sports
Balaji Telefilms reports higher programming hours and better realisation

The Ektaa Kapoor-led Balaji Telefilms Ltd reported a consolidated profit from continuing operations of Rs 7.1 crore for the quarter ended 30 September 2018 (Q2 2019, quarter or period under review) as compared to a loss of Rs 22 crore for Q2 2018 and a loss of Rs 0.6 crore in the immediate trailing...

Television Production House Post Production
3rd Sahitya Aaj Tak India’s largest Hindi Literature Festival promises a grander & a bigger show

Aaj Tak, India’s No. 1 Hindi news channel with over 25 crore viewers (Source: BARC, TG:2+,Mkt:HSM, Period: W29'18-W32'18,) kicks-off the third edition of its annual mega Hindi literature festival - Sahitya AajTak .

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories