News Corp
Rupert Murdoch’s News Corp Succession Plan Challenged by Hedge Fund
Rupert Murdoch’s transition of power at News Corp. to his son Lachlan is being challenged by a major shareholder in the media company. Hedge fund Starboard Value went public with a letter addressed to shareholders of the newspaper giant, owner of The Wall Street Journal and New York Post, calling on the company to eliminate […]
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News Corp. Decides to Take the Money From OpenAI in Major Licensing Deal
OpenAI has cut another major media licensing deal. The artificial intelligence firm has inked a deal with News Corp. that will bring content from its stable of media outlets to ChatGPT and other OpenAI products. “Through this partnership, OpenAI has permission to display content from News Corp mastheads in response to user questions and to […]
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Rupert Murdoch Knew of Widespread Phone Hacking, Prince Harry’s Lawyer Claims
Media mogul Rupert Murdoch is now being named by Prince Harry’s attorney as one of many News Corp. executives who allegedly knew the breadth of the company’s use of illegal news-gathering tactics and conspired to destroy evidence as the phone hacking scandal exploded over a decade ago. The allegation came from attorney David Sherborne during […]
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On Rupert Murdoch’s Last Day as News Corp Chair, Mogul Says He Hopes to Keep “Active Role” at Company
Wednesday marks Rupert Murdoch’s last day as chairman of News Corp., the publishing company that formed his initial entry into the U.S. market nearly 50 years ago. His son Lachlan Murdoch, the CEO of Fox Corp., will assume the role of chairman in his place. But he told shareholders of the company that he does […]
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News Corp. CEO Expects “Significant” Revenue From AI Companies That License Content
News Corp. expects to generate big bucks from generative artificial intelligence. On News Corp.’s fiscal first-quarter earnings call, CEO Robert Thomson said that the company is in “advanced discussions” with companies to license its content for their AI engines. “We are in advanced discussions with a range of digital companies that we anticipate will bring […]
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What Big Moves Are Left for Lachlan Murdoch?
Rupert Murdoch’s American media empire was forged in dealmaking. The mogul transformed a regional newspaper business into a juggernaut through acquisitions, perhaps most notably the 20th Century Fox Film Corp. in 1985 and Dow Jones (owner of The Wall Street Journal) in 2007. But he also knew when to sell. Murdoch split his companies in […]
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Rupert Murdoch’s Payday Hits $23M in Final Full Year Atop Fox Corp., Lachlan Murdoch Scores $21.7M
Rupert Murdoch and son Lachlan received $22.9 million and $21.7 million in compensation packages from Fox Corp. in the fiscal year that ended June 30, 2023, the parent company of Fox News has revealed. It will be the final full year in which Rupert Murdoch led the company as chairman, as he will step down and become chairman emeritus […]
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Succession, Rupert-Style: What Wall Street Makes of Murdoch’s Retirement
Executive retirements at age 92 don’t typically come as much of a surprise — unless the person stepping aside is a media mogul called Rupert Murdoch. After Fox Corp. and News Corp. said on Thursday that Murdoch would step aside as chairman of both his companies, effective as of the annual meetings for both firms in […]
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Hugh Grant Lawsuit Alleging Illegal Snooping by Rupert Murdoch’s The Sun Can Go to Trial, Court Says
A London court on Friday rejected an attempt by the publisher of The Sun tabloid to throw out a lawsuit by actor Hugh Grant alleging that journalists and investigators it hired illegally snooped on him. Justice Timothy Fancourt said a trial will have to determine whether Rupert Murdoch’s News Group Newspapers carried out unlawful information […]
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News Corp. Abandons Talks to Sell Real Estate Business to Rival
News Corp. has ended discussions with CoStar Group, the parent company of rental listing site Apartments.com, for the sale of its real-estate listing business Move Inc., the companies said on Tuesday. A potential sale of Move Inc., which runs the listing site Realtor.com, began in earnest after Rupert Murdoch and Lachlan Murdoch abandoned plans to […]
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News Corp. to Cut More Than 1,000 Jobs
News Corp., the owner of The Wall Street Journal, Dow Jones, and Australia’s Foxtel, will cut more than 1,000 jobs, citing a difficult economic environment and rising interest rates. In the company’s fiscal Q2 earnings report, CEO Robert Thomson said that the company would shed about 5 percent of the company’s employees, or about 1,250 […]
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News Corp’s HarperCollins to Lay Off 5 Percent of North American Staff
News Corp’s HarperCollins book unit said it is planning to cut 5 percent of its workforce in North America this fiscal year, which ends on June 30. The first of those job reductions took place on Monday. HarperCollins has approximately 4,000 employees worldwide, with its largest operation being in North America. “As noted last October, […]
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