Word: murdochized
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...models. And as the sons of Australia's two greatest media moguls, both know what it's like to have money - and to blow large sums of it. And yet ... "I couldn't imagine two more different people," says a Sydney lawyer who's worked closely with Lachlan Murdoch and James Packer over the years. "James has the softness of his mother, but he's extraordinarily numerate and has a bonhomie that he got from his old man. Lachlan is measured, reflective, highly intelligent. There's a hint of clean-cut, Princeton guilelessness about him, but there's also something...
...Publishing and Broadcasting Ltd., the multibillion-dollar family empire. Five months earlier, Lachlan had abruptly quit as News Corp.'s third highest-ranking executive in New York City, convinced he was being overruled by underlings. According to a source, he complained to his father, News Corp. chairman Rupert Murdoch: "What's the point of me being here?" The young Murdoch and his wife, Sarah, returned to Sydney, and while a 2-year noncompete clause has kept him out of the headlines, the call of big business was a siren song...
...Murdoch saw an opportunity in the jigsaw of James' businesses. Late last year, Packer's people split the family conglomerate into media and gaming divisions, with James more focused on the latter. Just before Christmas, Murdoch approached his mate about doing a deal on the group's media fragment, CMH. Over a wet January weekend, bunkered down in a city office, the pair nutted out their privatization plan, which would raise Packer's stake in CMH from 38% to 50% and give the other half to Murdoch, who would take charge as executive chairman. "I am only interested in running...
...That success isn't a given. The Australian Competition and Consumer Commission will decide by early April whether to block the deal on the grounds that it would substantially reduce competition in the Australian media market. Among the issues is whether the young Murdoch is acting alone through his private investment company, Illyria, or in part for News Corp., of which he remains a nonexecutive director. Having done the sums on Murdoch's estimated $1 billion equity contribution to the bid, business author Neil Chenoweth says, "For Lachlan to be doing what he's doing, family money...
...exposé on John McCain’s political-careerful of indiscretions small and large. The probable Republican nominee for president and historically, McCain apparently didn’t let his self-styled reputation as the Senate’s most adamant ethics watchdog slow him down when Rupert Murdoch and Michael Bloomberg offered him a plane ride. The Arizona senator—who is becoming more and more like his constituency with each passing year—was celebrated when he helped birth the Reform Institute, a nonprofit organization dedicated to keeping corporate money out of American politics; that...