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Drudge Retort: The Other Side of the News
Monday, October 28, 2024

Big changes to the leadership and direction of News Corp and FOX News in particular could result from a major Murdoch family dispute. A court in Reno is currently hearing the case for the opposing Murdoch factions. The battle is over the Murdoch Family Trust, the controlling entity of the Murdoch moneymakers.

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More from the OpEd ...

... Related voting issues for News Corp are also being addressed by a shareholders' vote. The Trust currently has 41% of the voting shares, and other shares can't vote. The idea is a 1 for 1 vote for all shares, which would completely reconfigure the numerical voting structure. Murdoch only has 14% of the total shares, so numerically, it's a very different environment.

Other stakeholders in News Corp could redirect FOX and News Corp as a whole "to the left". That's a big issue. News Corp is famous for being heavily committed to the right and is the main platform for Trump and other tourists. ...

The other issue is money. In terms of value, distribution, and market reach, FOX in particular is an obvious target for takeovers if the shareholder vote in favor of the new voting rights goes through.

That's not very likely. The shareholder vote can't force a change to voting rights. It's more like a referendum. The Murdochs couldn't possibly be thinking of splitting assets on that scale, unless the Trust fight leads to an impasse.

Murdoch vs Murdoch could be a barroom brawl. To be fair, it's been pretty civilized so far, and nobody in the family is saying much, if anything. It's a "dispute" at this point, not an all-out war.

Rupert and Lachlan are on the right. The others are on the left, whatever that means. Some pundits say that ditching the right would be a marketing disaster for News Corp. ...



#1 | Posted by LampLighter at 2024-10-28 12:12 AM | Reply

Sugar Ray - Someday
www.youtube.com

Lyrics excerpt...

genius.com

...
Someday, when my life has passed me by
I'll lay around and wonder why you were always there for me
One way, in the eyes of a passerby
I'll look around for another try and fade away
...

#2 | Posted by LampLighter at 2024-10-28 03:27 AM | Reply

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