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September 3, 2013

Rupert Murdoch made much of his fortune through the sensationalism sold in his tabloid newspapers, but now it is the media mogul himself whose life is being dramatised in a new Australian play.

Rupert Murdoch made much of his fortune through the sensationalism sold in his tabloid newspapers, but now it is the media mogul himself whose life is being dramatised in a new Australian play.

Created by one of Australia’s most well known playwrights, David Williamson, the cabaret-style show features Murdoch tap-dancing his way through his first acquisitions and sharing a flamenco dance with Britain’s former Iron Lady Margaret Thatcher.

July 4, 2013

A secretly taped recording of News Corp boss Rupert Murdoch has revealed who might succeed the octogenarian as head of the family media empire.

A secretly taped recording of News Corp boss Rupert Murdoch has revealed who might succeed the octogenarian as head of the family media empire.

Speaking at a meeting at the Sun newspaper, Murdoch said either his son Lachlan or News Corp chief executive Robert Thomson would likely take the helm should anything happen to him.

News Corp shareholders have previously urged Murdoch – whose family trust owns around 40% of the company’s voting shares – to name his successor.

June 19, 2013

Lawyers and family business experts suggest a divorce like the one Rupert Murdoch is facing could be a big distraction for a company boss, particularly at a time when the business faces challenges – as the Murdoch empire might following its recent split into two firms.

Lawyers and family business experts suggest a divorce like the one Rupert Murdoch is facing could be a big distraction for a company boss, particularly at a time when the business faces challenges – as the Murdoch empire might following its recent split into two firms.

Senior partner and co-founder of Banyan Family Business Advisors Henry Foley said divorce increases tension within the family business, and multiple divorces compound these impacts. Murdoch, 82, filed for divorce from Wendi Deng last week – he has already been through two other divorces.

May 31, 2013

News Corp to delist in London when it splits its business activities; Japanese drinks firm Suntory plans $4.7 billion IPO; and Fiat wants to buy the remaining stake in Chrysler.

News Corp to delist in London when it splits its business activities; Japanese drinks firm Suntory plans $4.7 billion IPO; and Fiat wants to buy the remaining stake in Chrysler.

News Corp

News Corp has announced it will delist from the London Stock Exchange when it splits its publishing and entertainment activities next month.

May 30, 2013

Poison pills are back in the news. But are they as sinister as the term suggests? Not necessarily if you are a family business.

Poison pills are back in the news. But are they as sinister as the term suggests? Not necessarily if you are a family business.

What exactly are poison pills? Put simply, they are shareholder structures that make it harder for hostile takeovers of businesses. They normally work by using discount share purchase agreements, whereby the existing shareholders are able to buy shares at a cheaper price than outsiders.

Poison pills gained notoriety during the 1980s when they were typically used to defend against the leverage buyout craze of the times.

May 28, 2013

News Corporation's board of directors has approved plans to separate out its publishing and entertainment activities in to two distinct companies, with a poisoned pill strategy in place to protect the new companies from a hostile takeover.

News Corporation's board of directors has approved plans to separate out its publishing and entertainment activities in to two distinct companies, with a poisoned pill strategy in place to protect the new companies from a hostile takeover.

The publishing division will retain the name News Corporation, while the broadcasting and entertainment business will be named 21st Century Fox – an updated name for Twentieth Century Fox, the film company Murdoch bought in 1985. The split, which will be completed by 28 June, was first tabled a year ago.

April 25, 2013

News Corporation's board of directors, including Rupert Murdoch, has agreed a $139 million (€106.8 million) settlement of a lawsuit brought by investors.
 

News Corporation's board of directors, including chief executive and chairman Rupert Murdoch, has agreed a $139 million (€106.8 million) settlement of a lawsuit brought by investors, which claimed directors had turned a blind eye to illegal practices and mismanagement at News Corp that damaged share prices.

The shareholders sued the directors on behalf of News Corp; the money – which will be covered by the board's insurance – will be paid to News Corp itself rather than to shareholders directly.

February 11, 2013

Bad weather and austerity have taken their toll on Loews and ArcelorMittal, with the family businesses reporting losses in the last quarter. But family-controlled News Corp and Douglas Holdings have fared better. 

Bad weather and austerity have taken their toll on Loews and ArcelorMittal, with the family businesses reporting losses in the last quarter. But family-controlled News Corp and Douglas Holdings are faring better.

Loews Corp
Loews, the US conglomerate controlled by Tisch family, reported a multi-million loss in its fourth quarter on 11 February, linked to catastrophe losses at CNA Financial, its insurance division, due to Hurricane Sandy.

January 17, 2013

It has been a week of divestments and acquisitions for family businesses; Metro divested in China, News Corporation and Shaw Communications both bought cable channels and JCDecaux eyed up a competitor. 

It has been a week of divestments and acquisitions for family businesses; Metro divested in China, News Corporation and Shaw Communications both bought cable channels and JCDecaux eyed up a competitor.

Metro
Germany-based Metro Group, controlled by founder Otto Beisheim and the Haniel and Schmidt-Ruthenbeck families, has decided to scrap its consumer electronics operations in China.

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