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December 2, 2016

Murdoch loses $100 million on Theranos investment; Benetton heir quits board; and Lundin Petroleum announces Barents Sea discovery

Murdoch loses $100 million on Theranos investment

Australian-American media mogul Rupert Murdoch, chairman and CEO of global media holding company News Corporation, is expected to lose the $100 million he invested in beleaguered blood testing group Theranos.

Murdoch, who purchased his stake when Theranos’ valuation was at the $9 billion mark, is likely to notice the irony after his own financial paper, The Wall Street Journal, played an instrumental role in questioning the reliability of its blood testing device.

October 5, 2016

John Elkann, the fifth-generation chairman of Fiat Chrysler, has stepped down from the board of American media multinational News Corp.

John Elkann, the fifth-generation chairman of Fiat Chrysler, has stepped down from the board of American media multinational News Corp.

In a statement, News Corp—owned by Australian-born American media mogul Rupert Murdoch—said Elkann left the board in light of the increased demands of his role as chairman of his family’s investment vehicle, Exor.

August 18, 2016

News Corp bid for Wireless Group finalised; Goya Foods reveals 80th anniversary sponsorship deal; and Henkel shares at record high on emerging market success

News Corp bid for Wireless Group finalised

The bid by Rupert Murdoch’s News Corp to take over Irish new media company Wireless Group has received backing from more than 92% of Wireless shareholders.

According to a joint statement, the cash offer, announced in June and valuing Wireless at £220 million ($289 million), will stay open to remaining shareholders until further notice.

July 8, 2016

Lotte founder’s daughter arrested; Serge Dassault on trial for tax fraud; and Gretchen Carlson files sexual harassment suit against Fox News 

Lotte founder’s daughter arrested

Shin Young-ja, the chairwoman of the Lotte Scholarship Foundation, has been arrested over allegations she received bribes as prosecutors step up an investigation into the country’s fifth-largest business chaebol.

The 74-year-old daughter of Lotte founder Shin Kyuk-ho is accused of accepting bribes from the former chief of cosmetics brand Nature Republic in exchange for store space in Lotte’s duty-free outlets.

January 11, 2016

Several next gens were appointed to the helm of their family businesses in 2015. From Michael Hill International in Australasia to France's Pernod Ricard, we look at whose been left in charge.

Several next gens were appointed to the helm of their family businesses in 2015. From Michael Hill International in Australasia to France's Pernod Ricard, we look at whose been left in charge.

Emma Hill, Michael Hill International (New Zealand/Australia)
Promoted: November 2015

June 19, 2015

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

Earlier this month it was revealed that Rupert Murdoch was standing back as chief executive of the movie and entertainment studio, appointing his sons to top positions within the company, with James becoming chief executive.

June 12, 2015

Rupert Murdoch, the second-gen head of media empires 21st Century Fox and News Corp, has stepped back as chief executive of the former so his son James can step into the spotlight.

Rupert Murdoch, the second-gen head of media empires 21st Century Fox and News Corp, has stepped back as chief executive of the former so his son James can step into the spotlight.

The US media tycoon will remain chairman of both companies. James has been working as co-chief operating officer at the movie studio since last year.

His brother, Lachlan, who was last year appointed non-executive co-chairman of 21st Century Fox, will now be an executive co-chairman. He will move from Sydney to Los Angeles to take up the role.

January 23, 2015

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

1: Shareholder revolts

November 18, 2014

Independent shareholders have voted overwhelmingly to abolish the dual class share structure of media empire News Corp at its recent annual meeting, but Murdoch family control means the company will stick with the status quo.

Independent shareholders have voted overwhelmingly to abolish the dual class share structure of media empire News Corp at its recent annual meeting, but Murdoch family control means the company will stick with the status quo.

The Murdoch family holds 40% of the voting rights in the publishing empire, despite owning just 12% of shares, allowing it to effectively control the company with a minority shareholding.

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