Will Murdochs fight after Rupert dies?
The News Corp. CEO's daughter blasts the family business for ethical lapses.
His daughter Elisabeth is a case in point. In a speech before the Edinburgh Television Festival, Murdoch's second daughter made the remarkable statement that "profit without purpose is a recipe for disaster." This is clearly a jab at her father and her younger brother James, the current favorite child who has been a focal point of the U.K. phone-hacking scandal.
Some analysts had speculated that Elisabeth would emerge as the new favorite after she sold her television production company Shine to News Corp for 415 million pounds ($661 million) last year. She seemed to have the least baggage of any of the siblings. Her brother Lachlan was once the heir apparent, achieving the position of deputy chief operating officer at News Corp., but he resigned seven years ago, saying he "was fed up with his father's meddling and his patronising lieutenants," according to Australia's The Monthly. By all accounts, Lachlan seems happy to remain in Australia.
For now, News Corp.'s well-liked President Chase Carey reportedly enjoys the trust of the Murdoch family. One investor remarked that "in a perfect world" he would be the next CEO and Rupert would become chairman. Since that hasn't happened yet, however, it seems unlikely that it will while the elder Murdoch is alive.
Even if the family decides to back Carey after Murdoch's death, there is another huge problem waiting in the wings. Murdoch has two young daughters with his third wife Wendy Deng, Grace Helen (born 2001) and Chloe (born 2003). Once they come of age, who knows what demands they will make on the family business?
Jonathan Berr does not own shares of the listed companies. Follow him on Twitter@jdberr.
There won't to much infighting after Muroch passes on. Considering all of the mainstream Media is actually controlled by the Rothchold family behind the locked doors. All Murdock family is , is a front for the Rothchild Family. So nothing new there.
The Rothchild Family would be in great Danger if people actually woke up and did some real digging into what the Rothchild family actually controls. And what their power gabing schemes are.
So go look at their history and how they have managed to control world events for money , greed and power.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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