The Times USA, which is a member of the Price of Business Digital Network, recently released an interesting article about how the Murdoch family -- which is one of the most powerful names in the news -- have become the news themselves.Kip Kolson, who is President of Family Wealth Leadership and a regular guest and writer on the Price of Business show and the network's sites, recently wrote about the soap opera that is the Fox media empire.
FROM THE ARTICLE:
"The New York Times recently published a lengthy article on the Rupert Murdoch media dynasty of news and entertainment companies and politics. It is not the politics that drew my attention, but the predictable family in-fighting and vying for control in which two of the six Murdoch children have engaged. Rupert has been married four times; almost 3 decades to his first wife, Patricia Booker who is the mother of Prudence. The second marriage to Anna Mann produced three of the six children, Elisabeth, Lachlan, and James. His current wife, Jerry Hill, is a model and actress and has children fathered by Mick Jagger. Rupert is 88 and starting to show signs of failing health, which is bringing leadership succession of his multi-billion-dollar businesses into question.
"The four children named above are the subject of the NY Times article, with emphasis on Lachlan and James. All four children have held management positions in one or more of the many companies owned by Murdoch and all imagined they would one day control everything. Lachlan and James have been the primary contenders for the Murdoch throne. The article says:
"“It had made for fraught family dynamics, with competing ambitions and ever-shifting alliances. Murdoch was largely responsible for this state of affairs; He had long avoided naming one of his children as his successor, deferring an announcement that might create still more friction within his family, not to mention bringing into focus his own mortality. Instead, Murdoch tried to manage the tensions, arranging for group therapy with his children and their spouses with a counselor in London who specialized in working with dynastic families. There was even a therapeutic retreat to the Murdoch ranch in Australia. But these sessions provided just another forum for power games and manipulation.”
It has not yet deteriorated into lawsuits, but once Rupert is gone, one wonders if that will be inevitable.
“'Over the years, Lachlan and James traded roles more than once. It was no secret . . ".
READ THE REST OF THIS ARTICLE BELOW:
www.thetimesusa.com/2019/04/23/when-the-newsman-is-the-news-rupert-murdochs-family-feud/
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www.familywealthleadership.com
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