Chanticleer
Murdoch ‘Succession’ tropes can’t hide a dilemma for investors
The Murdoch family feud makes for fabulous drama, but for long-term investors it masks a vital question.
As news broke on Monday night that Rupert Murdoch had failed in his attempt to strengthen eldest son Lachlan’s control of the family media empire, a very different message about the fate of Fox Corporation was being delivered on the other side of the United States.
Fox chief financial officer Steve Tomsic told a UBS media conference in New York that the company’s share of the US cable news audience had rocketed from 50 per cent a few months ago to 70 per cent in November, as Donald Trump won the White House.
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