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Tag: Lachlan

  • Lachlan Murdoch to lead New Fox after Disney sale, James is out

    Lachlan Murdoch to lead New Fox after Disney sale, James is out

    MUMBAI: The Murdochs-led 21st Century Fox has unveiled a new executive structure of the upcoming New Fox group after Disney buys out its other assets as proposed.

    Lachlan Murdoch will be chairman and CEO while father Rupert Murdoch will hold on as co-chairman. Since 2015, Lachlan has been executive chairman of 21st Century Fox. He works directly with the company’s senior management and board of directors in developing global strategies and setting the overall corporate vision. He also currently serves as co-chairman of News Corp and executive chairman of NOVA Entertainment, an Australian media company.

    Speaking on the changes, Lachlan Murdoch said: “We have worked through the winter ‘standing up’ a reimagined independent Fox. I am very pleased that John has agreed to take on the role of chief operating officer, and together we look forward to making further announcements as to the management and structure of this new Fox as we get closer to closing our proposed transaction with Disney.”

    21st Century Fox CEO James Murdoch has found no place at New Fox, which is news and sports focussed. Instead, James will be launching his own venture.

    Chief financial officer John Nallen will be the chief operating officer but current president Peter Rice didn’t find a seat at the helm. “The opportunity to reshape a business strategy and an operational approach uniquely tailored to the new Fox is truly compelling. I look forward to joining Lachlan as we begin to establish new Fox,” said Nallen.

    “The new Fox will begin as the only media company solely focused on the domestic market; focused on what Americans love best—sports, news and entertainment, built and delivered for a US audience,” said Rupert Murdoch.

    New Fox will have Fox News, Fox Business Network, Fox Broadcasting Company, Fox Sports and Fox Television Stations Group as well as sports cable networks FS1, FS2, Fox Deportes and Big Ten Network.

    A while ago, the Walt Disney Company agreed to a pay $52.4bn for Fox’s other assets including film and TV studios, US cable networks and international channels. Disney also gets a shot at National Geographic, FX and FXX, and even a 30 per cent interest in Hulu, which gives it a controlling stake in the US streamer. The deal also comes with stakes in Sky and Endemol Shine Group.

  • Fox reorganises international division, CEO Hernan Lopez to quit

    Fox reorganises international division, CEO Hernan Lopez to quit

    MUMBAI: In a major restructuring exercise, Fox Networks Group is reorganising its international television unit, consolidating its international channels under regional hubs in Europe, Latin America and Asia.

     

    With this development, Fox International Channels CEO Hernan Lopez will leave the company.

     

    Under the new structure, FIC banner will be discontinued. Additionally, Zubin Gandevia will become president of Fox Networks Group Asia, while Jan Koeppen and Carlos Martinez will hold the same position Europe and Latin America respectively.

     

    All three will report to Fox Networks Group CEO and chairman Peter Rice and Fox Networks Group president and COO Randy Freer.

     

    “As our television business expands globally, the success and scale of our entertainment and sports brands in these fast-growing regions demand that they stand independently. Jan, Carlos and Zubin are extremely talented executives with a sharp understanding of the opportunities for new content and programming in their regions,” Rice said.

     

    “At Fox, I’ve been fortunate to work with some of the most talented and creative people in media. I want to thank the several thousand employees and alumni of FIC, as well as Peter Rice, Chase Carey, James, Lachlan and Rupert Murdoch. I’ve been inspired by them and many colleagues throughout Fox, News Corp and Sky, and look forward to future collaborations as I embark on this next stage of my career,” Lopez added.

     

    Gandevia, Koeppen and Martinez will oversee Fox Network Groups’ 350-plus international entertainment, sports, factual and movie channels.

  • Media mogul Rupert Murdoch gets engaged to Jerry Hall

    Media mogul Rupert Murdoch gets engaged to Jerry Hall

    MUMBAI: At a time when divorce rates are sky rocketing and the current generation is increasingly shying away from marriage as an institution there is one person who has proved his faith in the holy union quite strong. At the age of 84, media mogul Rupert Murdoch has announced his engagement to actress and model Jerry Hall, who turns 60 in a year.

    The couple, who were seen together in Los Angeles last weekend while attending Golden Globe Awards, had declared this happy news in births, marriages and deaths section in the Times newspaper.

    This will be News Corp executive chairman Murdoch’s fourth marriage, while for Hall this will be her first under the law. Hall had a 23-year long  relationship with Mick Jagger with whom she has four children — Elizabeth, now aged 31, James, 29, Georgia May, 23, and Gabriel, 17. Jagger and Hall did have a marriage of sorts, which was later declared invalid by the High Court in London in 1999.

    On the other hand, Murdoch has six children from his three previous marriages namely James, Lachlan, Elisabeth, Chloe, Grace and Prudence. He divorced his third wife Wendi Deng, 46, in 2013.

    Murdoch was previously married to Patricia Booker, a former flight attendant from Melbourne, and then to Scottish journalist Anna Torv.

  • Murdoch-Wendi get divorced

    Murdoch-Wendi get divorced

    MUMBAI: It’s done and over with. Media baron Rupert Murdoch and his third wife Wendi Deng got divorced on Wednesday. And there was none of the drama that is normally associated with the end of celebrity marriages. The duo –first Murdoch and then Wendi – arrived quietly in the New York Supreme Court in Manhattan and agreed to the terms of the divorce before Judge Ellen Gesmer, and the hearing was over in just about 15 minutes.

     

    The couple had signed one prenuptial and two postnuptial agreements delineating the division of assets in the event of a divorce. As part of the final terms, Wendi will continue to keep the couple’s apartment on Fifth Avenue in Manhattan valued at $44 million and their home in Beijing.

     

    Murdoch and Wendi have two daughters 12 year old Grace Helen, and 10 year old Chloe. The octogenarian has four other children from his two earlier marriages – Prudence, James, Lachlan and Elisabeth.

     

    Murdoch’s personal fortune which was estimated in excess of $13 billion is held in a family trust in which all this six children have an equal economic interest though his two youngest daughters have no voting interest.  The trust owns about 40 per cent stock News Corp and Twenty First Century Fox. News Corp is the owner of India’s $1billion plus turnover Star India network which runs India’s No 1 Hindi GEC Star Plus and also India’s leading sports television network.

     

    Married for 14 years, the couple decided to part ways when Murdoch said he wanted a divorce in June this year as the marriage had irretrievably broken down.  They later issued a joint statement which said: “We are pleased to announce that we have reached an amicable settlement of all matters relating to our divorce. We move forward with mutual respect and a shared interest in the health and happiness of our two daughters. We will not comment on this any further.”

  • Rupert Murdoch plans to divide wealth equally between children

    Rupert Murdoch plans to divide wealth equally between children

    MUMBAI: Media tycoon Rupert Murdoch has said that he plans to divide his wealth equally among his six children. In an interviw on US broadcaster CBS’ Charlie Rose Show he added that if he died tomorrow, his four elder children would decide who among them would control the family trust’s 30% control of the media conglomerate. Murdoch has also said that his two younger children through his third marriage to Wendi Deng will not have a role in the future of News Corp.

    This reports indicate settles confusion over who will take over the reins once Murdoch steps down. It was this confusion that led to a fight that saw Lachlan Murdoch quitting the company last year. The four children from Murdoch’s first two marriages Prudence, Lachlan, Elizabeth and James will control the family’s controlling stake in News Corp once he dies.

    “If I go under a bus tomorrow, it will be the four of them will have to decide which of the ones should lead them,” he said.