Lachlan Murdoch doesn’t share his father’s interest in Britain but Rupert is still deemed ‘very much in control’
, two rightwing titles due to be auctioned by Lloyds bank next month. Rupert Murdoch, whose resignation statement included a diatribe about elites and groupthink, has long coveted the weekly Spectator for its cachet in rightwing circles.
One of the biggest difference between Lachlan and his father is their cultural connection to Britain. Murdoch, who attended the University of Oxford, returned from Australia in the 1960s to build a media empire in London, exerting political power over multiple prime ministers and building up a business that ranged from high-end broadsheet newspapers to the tabloids that produced the cash to build a satellite TV business – and ultimately a shift into more profitable US business.
McKenzie said the transition announced on Thursday showed that Rupert knew when to exit a deal, such as when he offloaded Sky and other big assets in 2018 at the peak of the market. But he laughed at Murdoch’s decision to appoint himself “chairman emeritus”, suggesting his former employer had mocked such titles in the past.
To complicate matters, appointing Lachlan as sole chair does not mean that the Murdoch family succession issue is settled for ever. Rupert still controls the family trust that owns most of the shares of News Corporation and Fox, enabling him to push through Thursday’s formal transition of power.
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