February 7, 2018--Rupert Murdoch's Boys

Rupert Murdoch, worth at least $13.1 billion, owner of various news outlets and TV stations, including in New York, the salacious Post and, nationally, the Wall Street Journal (known for its Neanderthal editorials and high-quality reporting), entertainment companies such as F/X and the National Geographic channels, and of course the nefarious Fox News Channel, home to the likes of Bill O'Reilly (gone but insufficiently forgotten) and Sean Hannity (still awaiting his ultimate fate), Rupert, now married for the 10th or 11th time (kidding) to Mick's Ex, Jerry Hall, approaching 90, with at least half his marbles (enough to talk to Donald Trump almost nightly offering advice and encouragement) has for the past couple of years been dividing and turning his empire over to his two adult sons, James and Lachlan--the entertainment division to the former and the news operation to the latter. 

This represents an opportunity, perhaps even hope, especially for his media holdings in America as son Lachlan is reputed to be of a more liberal persuasion than his father (he pushed vigorously to fire Roger Ailes when his sexual harassment behavior was exposed) and might, just might be inclined to calm things down at Fox by dumping the evening opinion shows (right-wing rants) and while he's at it the insipid morning show, Fox&Friends, which Trump watches religiously and from which he gets many of his most corrosive and paranoid daily talking points.

But then again, Lachlan's half of the pie is the most profitable part, netting the Murdochs nearly $1.0 billion a year in net profit.

Though the money keeps pouring in, Fox News's viewership is aging out and dying off. Their 3.3 million daily viewers are on average 68, almost old enough to be required to begin drawing down their IRAs.

With these trend-lines there's no real future for Fox News as it's currently configured while for Lachlan, only 46, it is too soon to be presiding over such a geriatric operation.

Then, though he holds dual citizenship (he was born in England but lives in America) he is more American than Brit and thus to have a life in New York and Aspen, where he owns a sprawling mansion, to live a cosmopolitan life, presiding over Fox News as it spills hate out over American airwaves, to be responsible for Sean Hannity, is a cultural and social problem. And not to forget, these mesmerized viewers led the spawning of the Trump constancy. No Fox, no Trump.

I can see the possibility of son Lachlan guiding Fox in a still conservative but moderate direction. There is a younger viewership for that and so the bottom line, over a carefully staged transition, would not be undermined. The Fox News channel would remain a cash cow.

On the liberal side, the Washington Post and New York Times (both at the time, as Fox, family owned) over a decade morphed from outlets for traditional Republican editorial policy into liberal institutions. (The New York Post, another example of generational transition, was for many decades very liberal, at times, socialistic, and then along came Rupert Murdoch.)

So there is precedent. Above all, one cannot overemphasize the propensity of children, when inheriting businesses, to want to put there own stamp on things. (That's the Trump story, isn't it?) Of course, children (sons) thinking they're smarter than the "old man" frequently wind up bankrupting the family business. (That's the Trump story, isn't it?)

In regard to Fox News, if that were to happen, I could live with it.

The Murdoch Boys