Exam (elaborations)

MNE3704 Assignment 2 Semester 1 | Due 31 March 2025

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Course
Family Business Management (MNE3704)

Institution
University Of South Africa (Unisa)

Book
Family Business

MNE3704 Assignment 2 Semester 1 | Due 31 March 2025. All questions answered. CASE STUDY: THE MURDOCH DYNASTY Rupert Murdoch inherited a modest media business from his father, Keith, but the impact of death duties and taxes left him nothing but a loss-making newspaper in Adelaide, Australia. He ha...

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mne3704 assignment 2 semester 1 2025

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CASE STUDY: THE MURDOCH DYNASTY

Rupert Murdoch inherited a modest media business from his father, Keith, but the impact of death
duties and taxes left him nothing but a loss-making newspaper in Adelaide, Australia. He has
transformed this into the world’s largest media empire. His primary interest, New Corporation, has
assets of $56 billion and sales $23 billion in films, newspaper and publishing around the world. But
according to some reports, the problem of succession is threatening to destabilize his business.

Rupert's public favour of his children over professional management has sent a clear signal to
ambitious employees and investors alike. This is a family company, family gets priority, and everyone
else's interests will always be second. Rupert Murdoch has six children from three marriages,
including Elizabeth, Lachlan and James from his marriage to Ann, which ended in divorce in 1999.
Lachlan, who managed the New York Post and the Fox television service, was initially the favourite to
head the family business. But in recent years, first Elizabeth and then James have emerged as
contenders for the succession. Lachlan, a London-born American citizen was sent to Australia in 1994,
where he was chairman and chief executive of News Ltd, the Australian arm of News Corp. He was
deputy chief executive officer on the main board of News Corporation, a role that extended his reach
well outside of Australia and into the company’s worldwide interests, but he abruptly resigned this
post in August 2005.

The family denied that he quit because of a rift with his father. Lachlan’s elder sister, Elizabeth,
came into reckoning when she was given a senior job at BskyB, Murdoch’s UK satellite television
company. This was a controversial appointment as she had less than two years’ management
experience and was described as a ‘trainee’ by the chief executive (who left soon after making the
comment). Elizabeth now seems intent on making own way as she left Sky to set her own film
production business, Shine Entertainment.

James worked his way up through the company’s new media and newspaper interests in New York,
before moving to Hong Kong to take charge of News Corporation’s ailing Asian satellite service
StarTV. Having turned this around, he was given the executive’s role at BskyB in 2003. Promoted to
take charge of the NewsCorp business in Europe and Asia in 2007, he is now the bookies’ favourite to
take over when Rupert goes. But one should not forget Murdoch’s elder daughter, Prudence MacLeod,
who does not have job in News Corp herself but she has declared that her oldest son, teenager James
MacLeod, is a lot like his famous grandfather and may also want to take over the world one day.
Fortunately, News Corp is large enough to give them all interesting employment should they need it.

It had been thought that James Murdoch, the third child born to Rupert’s second wife, was most likely
to inherit the empire. That was before he became embroiled in the phone-hacking scandal at the News
of the World. In a concession to shareholders, parliamentary inquisitors and anyone else troubled by
the behaviour of Murdoch’s British newspapers, it was revealed that James has resigned from the
boards of The Times of London and The Sun. Although he remains executive chairman of News
International, the News Corp. subsidiary that publishes the company’s British newspapers, the decision
to distance himself from the papers, however marginally, is the latest blow to James’s prospects of
ever running News Corp.

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Exam (elaborations)

MNE3704 Assignment 2 Semester 1 | Due 31 March 2025

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