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When familial ties force a young next-gen into leadership

July 17, 2014

A fresh-faced CEO straight out of business school isn't always the person to inspire public and investor confidence, but circumstances sometimes force a young candidate into the top spot at a family firm.

Picking a chief executive for any family business is a tough task. It is especially problematic if the company is bent on keeping a family member in the top job. This was the conundrum Gianni Agnelli faced when trying to prepare an heir to take the wheel of his family’s iconic Italian car brand Fiat. Drug addiction in his only son and then stomach cancer in his nephew saw his pool of potential successors whittled down to his 21-year-old grandson John Elkann.

New role for James Murdoch with digital advertising firm

April 22, 2014

Only a month after he was promoted co-chief operating officer at 21st Century Fox, James Murdoch has added the role of board member of an advertising start-up to his résumé.

Only a month after he was promoted co-chief operating officer at 21st Century Fox, James Murdoch has added the role of board member of an advertising start-up to his résumé.

Murdoch, who built his career in his father's media empire, has joined the board of US-based True (X) Media – a digital advertising platform that promises to provide interactive advertising to its clients.

Lachlan Murdoch scores top posts at News Corp and 21st Century Fox

March 26, 2014

Rupert Murdoch appears to have anointed Lachlan Murdoch his family business heir apparent, in a reshuffle in 21st Century Fox and NewsCorp senior management this week, appointing the 42-year-old his co-chair at both companies.

Lachlan's brother James Murdoch, once seen as the most likely successor to the Murdoch family empire, was promoted to co-chief operating office at 21st Century Fox, but will not be working in such a direct relationship with his father.

Murdoch to delist 21st Century Fox in his native Australia

January 9, 2014

Twenty-First Century Fox, controlled by the Murdoch family, has announced it plans to delist from the Australian Stock Exchange (ASX), only six months after it was first listed as a standalone company, to simplify its capital structure.

According to chairman and chief executive Rupert Murdoch, the film and entertainment company no longer had sufficient operations in Australia to justify the listing.

James Murdoch sells 21st Century Fox shares

November 21, 2013

The son of Rupert Murdoch and second-gen deputy chief operating officer at 21st Century Fox, James Murdoch, has sold around a fifth of his shares in the entertainment company in a transaction valued at around $15 million.

It comes just two weeks after the company posted its first quarterly results as a standalone company, following its separation from News Corp.

Family business roundup: Lagardere, News Corp, Henkel and Richemont results

November 13, 2013

Lagardere reports sales are down, while News Corp, Henkel and Richemont all saw net profits rise for the third quarter – despite currency fluctuations hitting revenues.

Lagardere
French publishing, media and travel group Lagardere, controlled by the eponymous family, said sales were down 2.9% to €1.9 billion for the third quarter of 2013, and revenues for the first nine months of the year fell by 1.1% to €5.3 billion.

Murdoch survives as chairman of 21st Century Fox

October 21, 2013

Rupert Murdoch has been reelected as chairman of the board for entertainment company 21st Century Fox, despite opposition from several shareholder groups and a top proxy advisory firm.

His sons, Lachlan and James, were also reelected to the 12-person board.

The vote was made last Friday at the first shareholder meeting of the company, which was separated from the publishing arm of Murdoch's News Corp in June this year.

Remove Murdochs from 21st Century Fox, says advisory firm

October 9, 2013

Shareholders in Rupert Murdoch's newly-formed entertainment company 21st Century Fox have been advised to vote against his re-election as chairman – and against the return of his two sons Lachlan and James to the board of directors – by a top proxy advisory firm, ahead of the company's first shareholder meeting next week.

Murdoch does the light fantastic

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.

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.

Murdoch reveals Lachlan, not James, could succeed him

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.

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.